USD/JPY up on BOJ press-conference
USD/JPY has broken above the 100.60 resistance and touched 100.80 post the Bank of Japan (BOJ) press-conference.
Bullet points of the Kuroda's comments are cited below:
- Japan’s economy moving in line with forecasts so it’s too early to talk of any specific steps;
- BOJ still has steps available to respond to upside, downside risks;
- BOJ wants to monitor the market moves as markets coulds react to monetary policy changes;
- The bank sees no change in trend of robust consumer spending;
- BOJ expects Japanese lending to graually increase as QE helps economy improve;
- BOJ expects US economy to pick up as downward pressure from fiscal stand-off decreases;
- Outlook for overseas economies is brightening somewhat due to US/EU recoveries;
- Some nations, inc some in Europe may be in deflationery phase;
- China’s economy is likely to sustain stable growth, domestic demand is very strong;
- BOJ doesn't see big risk of sharp worsening in emerging economies.
Chart. Daily USD/JPY