Forex Trading News: BOJ's Shirakawa on the Wires

BOJ SHIRAKAWA:GLOBAL INFLATION RISKS ARE INTENSIFYING; CURRENCIES SHOULD REFLECT FUNDAMENTALS
- Global inflation risks are intensifying and sees further downside risk for the global financial markets  
- Adds that FX is not the ONLY factor when considering monetary policy  
- No plans to revise BoJ policy on jGB open market operations  
- Downside risks for both US and Japanese economy remain high  
- Says that BoJ to adopt the right policy for Japan for the sake of global economy  
- BoJ is closely watching inflation expectations, weakening income and domestic demand  
- Adds that fears regarding of US and European bank losses remains   
- Desires the economy to be strong and for FX to reflect that  
- Says that is managing monetary policy appropriately   
- Notes that Japanese economy and price conditions are different from Europe and US
- Reflects that high oil prices are due to the global change