Yen Falls After BoJ Kuroda's Comments
January 22 2018 - 9:30PM
RTTF2
The Japanese yen reversed direction and weakened against its
major rivals in pre-European deals on Tuesday, after the Bank of
Japan governor Haruhiko Kuroda reiterated his commitment to
continue its current monetary easing policy.
With inflation still far from 2 percent goal, the board is not
in a position yet to debate the timing of an exit from ultra-easy
monetary policy, Kuroda said at the press conference post-BOJ
meeting.
"For Japan's economy, it's important for the BOJ to patiently
continue with powerful monetary easing," he said.
"As for the future, we will decide appropriately looking at the
economy, prices and financial developments from the viewpoint of
achieving 2 percent inflation at the earliest date possible," he
added.
The yen fell back to 111.18 against the greenback, from an early
high of 110.55.
The yen weakened to 4-day lows of 115.50 against the franc and
89.24 against the loonie, from its early highs of 115.03 and 88.81,
respectively.
The yen slipped to a 5-day low of 136.22 against the euro and a
1-1/2-year low of 155.40 against the pound, off its previous highs
of 135.61 and 154.67, respectively.
If the yen falls further, it may find support around 113.00
against the greenback, 138.00 against the euro, 117.00 against the
franc, 158.00 against the pound and 91.00 against the loonie.
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