USD/JPY has dropped under 142.00 on BOJ Nakagawa comments

Bank of Japan monetary policy board member Nakagawa spoke earlier here:

• BOJ’s Nakagawa speaks on one-sided yen falls

He has sent the yen higher. USD/JPY dropped down towards 141.50 and has since bounced back towards 142.00.

Nakagawa said, amongst much lease:

• real interest rates remain deeply negative, accommodative monetary conditions maintained
• BOJ likely to adjust degree of monetary easing if economy, prices move in line with its projection

Flagging there is plenty more tightening still to be done.

EUR/USD has popped a little, circa 1.1035

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