Bank of Japan Governor Kuroda remarks crossing the newswires again.
- He does not see the current yen weakness as particularly negative for the Japanese economy
- says its important to FX to move stably, reflecting economic fundamentals
- yen fall pushes raw material import prices, but boosts the value of profits of Japan firms’ overseas operations
- must look comprehensively at the pros and cons of the weak yen on Japan’s economy
In a not very roundabout way Kujroda endorsing the weakness in the yen.