Didn’t take much for yen to collapse: BOJ official says won’t raise rates if mkt unstable

Bank of Japan deputy governor Uchida spoke:

BOJ deputy governor Uchida says the Bank’s interest rate can change if neededUSD/JPY surging on Ushida speechMore from BOJ dep Gov Uchida: Appropriate to adjust degree of monetary easing

The comments sound like a Bank mulling pulling back on hikes. This is pretty clear, via Bloomberg:

And, if you are in doubt:

USD/JPY raced to a high above 147.45.

Its dropped a big figure from there like 5 minutes.

Wild times.

This article was written by Eamonn Sheridan at www.forexlive.com.