Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Monday, “recent sharp yen falls are undesirable, adding that they are “not good for the economy. “
Additional quotes
BOJ must support economy with monetary easing to achieve higher wages.
Japan's economy still in the midst of recovery from pandemic's hit, rising raw material costs is rising to downward pressure.
Important for forex to move stably reflecting fundamentals.
Will closely watch impact of FX moves on economy, prices.
Japan's economy picking up as a trend despite headwind from rising global commodity prices.
Don't think Japan is in state of stagflation, don't think it will slip into one.
There is uncertainty over impact of Ukraine crisis on Japan’s economy, prices.
Japan's economy likely to improve as impact of covid, supply constraints eases.
Separately, Japanese Finance Minister Shunichi Suzuki said that a weak yen has both merits and demerits.
Suzuki said that he does not want to comment on FX intervention.
Market reaction
On yen jawboning yet again from the Japanese authorities, USD/JPY slipped below 135.00.
The spot is now trading at 134.86, up 0.32% on the day.