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MNI BRIEF: BOJ's Uchida Says Rapid FX Moves Undesirable

TOKYO (MNI)

A senior Bank of Japan official on Monday said short-term rapid foreign exchange movements are undesirable and cause a negative impact on the economy.

Shinichi Uchida, the BOJ’s executive director in charge of monetary policy, told lawmakers the central bank is carefully monitoring forex moves.

The yen hit an intraday high of 125.00 against the USD on Monday, up from last week's close of JPY124.34. It traded around JPY124.88 just before noon in Japan, see: MNI BRIEF: BOJ's Uchida: Core CPI Around 2% In Or After April.

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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