The Japanese yen appreciated against other most-liquid currencies today after the speech of Haruhiko Kuroda, Bank of Japan Governor, even though he was talking about a possibility of additional monetary easing.
Kuroda reiterated that he is ready to ease monetary policy further if necessary, saying:
There can be cases where such powerful monetary easing is needed, depending on developments in economic activity and prices as well as financial market conditions. The Bank stands ready to use every possible policy tool, if it judges necessary to achieve its objectives.
Yet markets were not impressed, seeing nothing particularly new and interesting in his words. That was beneficial to the yen as well as risk aversion caused by the upcoming US presidential debates.
USD/JPY dropped from 101.00 to 100.35 as of 16:26 GMT today. CHF/JPY fell from 104.05 to 103.61.
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