USD/JPY down on Kuroda’s speech
USD/JPY weakened into the 98.15 area following the BoJ Kuroda's speech.
Here are the key points he mentioned:
- Japanese inflation expectations are gradually rising;
- Growth is expected to surpass potential after the increase of sales taxes;
- Real interest rates have fallen considerably;
- It's too early to openly debate exit from QE but the BOJ will be mulling a strategy internally;
- The BoJ will not hesitate to adjust policy if needed to achieve a price goal;
- Overseas economies are likely to recover gradually.