Yen Flat After Kuroda Talks About Stimulus Again

The Japanese yen was little changed today after Haruhiko Kuroda, Bank of Japan Governor, talked yet again about possibility of additional monetary easing. The currency even managed to gain on the US dollar.

Kuroda said today that the central bank is ready to adjust monetary policy as needed for achieving the 2% inflation goal. The Governor was not excessively optimistic about Japan’s economic growth, saying that “Japan’s economy is expected to expand moderately as a trend.” Yet markets have been disappointed by the previous BoJ policy decisions, and it looks like market participants wait for real actions, not for words. That is the likely reason why the yen did not react to Kuroda’s comments.

USD/JPY slipped from 104.33 to 104.06 as of 13:29 GMT today. EUR/JPY was down from 114.38 to 114.02 intraday but bounced to 114.45 by now.

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