BOJ's Kataoka: Weak JPY positive for economy as a whole
|Bank of Japan (BOJ) board member Goushi Kataoka said on Thursday that a weak Japanese yen was positive for Japan's economy as a whole, as reported by Reuters.
"The negative impact of the weak yen on the economy comes mainly through rising import costs," Kataoka added. Earlier in the day, Kataoka noted that he was not expecting inflation to gain momentum to sustainably head toward the bank's 2% target.
Market reaction
The USD/JPY pair continues to push higher following these comments and was last seen trading at its highest level in six years at 121.40, rising 0.2% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.