More from Ueda: Doesn’t see yen moves as having a big impact on trend inflation so far

Bank of Japan Governor Ueda:

• don’t see yen moves as having a big impact on trend inflation so far but there is risk impact could become significant in the future

• BOJ won’t necessarily wait until inflation achieves our forecasts in
  1.5 to 2 years to raise interest rates
• If trend inflation
  moves as we project, we will adjust degree of monetary support
  accordingly
• Inflationary pressure driven by positive wage-price cycle is strengthening

Suzuki and Ueda have both been taking today:

• Yen falls deeper in the hole. FinMin Suzuki keeps on digging: “No comment on intervention”
• Bank of Japan Governor Ueda says monetary policy does not seek to control forex rates
• Japan finance minister Suzuki says he is watching FX movement with a sense of urgency

USD/JPY to a new session high above 155:

This article was written by Eamonn Sheridan at www.forexlive.com.