Japan's Asakawa says that forex volatility is not positive
Looks like we found the non-currency trader in the room!
- There is slightly nervous movement in markets
- Will keep closely monitoring markets for now
- Can't forecast direction in which USD/JPY will go
- Says that Fed rate cuts have not been decided yet
- Supports Kuroda and BOJ's monetary policy
- Will act appropriately if there are excessive forex movements
Asakawa is a key member in Japan's finance ministry and he's commenting here after a meeting with top officials in evaluating the current market environment. As mentioned then, their biggest fear is seeing the yen strengthen any further against the dollar as that could threaten to derail their "progress" towards the 2% inflation target.
Reprinted from Forexlive，the copyright all reserved by the original author.
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