BOJ on the Wire Pushing Yen Lower
Written March 11, 2010 at 9:31 PM EST by Alex Chernomordin
The following comments from the BOJ against the Yen have helped push the USD/JPY pair higher even as the USD remains under some pressure. In addition to comments from Morgan Stanley earlier that ‘Japan is increasingly likely to sell Yen and that Yen could weaken to 109 per dollar at year-end.’
- Hatoyama says markets should set exchange rates.
- Hayatoma says to take appropriate measures on the Yen if needed.
- Hayatoma says need to take proper action on stronger Yen.
- Shirakawa says BOJ’s accommodative policy is affecting the Yen.
- Shirakawa says liquidity injection has limited impact on prices.
- Shirakawa says shouldn’t be influenced by short-term prices.
- Kan says up to BOK to decide specific policy measures, expects BOJ to take appropriate policy measures.
- Kan says intervention always option if moves are abrupt.
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