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- Japan’s Senior Govt Official Kihara: No such thing as good or bad in currency rates
Japan’s Senior Govt Official Kihara: No such thing as good or bad in currency rates
In an interview with Reuters, Japanese Deputy Chief Cabinet Secretary Seiji Kihara voiced a similar opinion to that of his colleagues, citing that the government would closely watch the impact of a softer yen on the economy.
Key quotes
There's no such thing as good or bad in currency rates.
Govt will closely watch impact of yen moves on economy.
Sharp fx moves are undesirable, stability is important.
Specific monetary policy up to BOJ to decide, when asked whether BOJ should raise interest rates to stem yen falls.
Up to currency authorities to respond appropriately to day-to-day moves.
Market reaction
USD/PY was last seen trading at 128.61, down 0.20% on the day, having witnessed a volatile Asian session.
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