BOJ's Kuroda: If FX movement is so fast and unidirectional, it's probably speculation

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BOJ's Kuroda: If FX movement is so fast and unidirectional, it's probably speculation

<p>The MOF handles intervention but clues often come from the Bank of Japan and Kuroda is out with a warning:</p><ul><li>If currency moves are so fast and unidirectional, they're probably cuased by speculation and that would be bad for the economy</li><li>Yen deprecation may have good impact on macreconomy as a whole, but there are some sectors which are suffering from a weak yen</li><li>We have to be carefully watching and analyzing the impact of currency movements on the economy</li><li>Government intervened to short up yen or stop its one-sided moves and it was quite appropriate</li></ul><p>It looks like we're going to have a game of chicken in USD/JPY until closer to 150.00. Last up 95 pips to 146.82 and accelerating after PPI and Kuroda.</p><p>/JPY</p>

                This article was written by Adam Button at forexlive.com.

Source: BOJ's Kuroda: If FX movement is so fast and unidirectional, it's probably speculation

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