Aware of criticism on communication being insufficient, with regards to post-July meeting market routWould be good to have communicate more frequently on our view on price outlookMarket rout in early August was temporaryThe impact on consumption and financial system is negligibleSome evident in CPI data today that wage hikes are reflected in services pricesBut impact of weak yen on import price inflation will mostly fade out
His remarks aren’t anything new I would say. But if yen bulls were hoping for some clues about October or December, they might be met with slight disappointment. However, surely it wasn’t to be expected that Ueda will be giving anything away today.
In any case, USD/JPY is rocking back and forth still with the high moments ago coming in at 143.20 before settling around 142.90 currently. The low when he just started speaking some 40 minutes ago was at 141.73.
This article was written by Justin Low at www.forexlive.com.
