BoJ’s Kuroda: Doesn't believe current BoJ policy is weakening the Yen

The Bank of Japan (BoJ) Kuroda is on out on the wires now, via Reuters, making a parliamentary appearance again today.

On Tuesday, Kuroda sparked a sharp Yen sell-off across the board after he said that the BoJ is ready to ease further if there is any difficulty in achieving the 2% price target.

Main Headlines:

Currency rate is decided by various factors.

No one thing decides currency levels.

Yield spreads can affect currency moves.

Doesn't believe current BoJ policy is weakening the Yen.

BoJ policy doesn't target currency levels.

BoJ policy is aimed at stabilizing prices.

Believes that this view is understood by the US.