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MNI BRIEF: BOJ's Kuroda, MOF's Suzuki  Want Orderly Yen Trade

TOKYO (MNI)

Bank of Japan Governor Haruhiko Kuroda said on Friday that the yen’s drop against the U.S. dollar recently does not reflect a loss of confidence in the Japanese currency, while Finance Minister Shunichi Suzuki said that rapid forex moves are undesirable.

Kuroda told lawmakers that it is important for foreign exchange rates to move stably reflecting economic fundamentals, and the BOJ continues to closely watch the market. He added that the dollar’s rise is due to a solid U.S. economy and the outlook for higher U.S. interest rates, see: MNI INSIGHT: BOJ Left With Jawboning As Yen Weakens.

The 10-year Japan Government Bond (JGB) yield rose to 0.24% on Friday with spot yen hitting a high of 122.44 against the USD. Suzuki also spoke in parliament and reiterated stability of forex rates is important.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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