It’s very much the same old stuff from Kishida. The BOJ has bigger concerns at the moment as 10-year JGB yields are straying offside from their implicit cap of 0.25%:
The yen may be getting a bit of a reprieve on the day as the dollar shakes off some of its gains and Treasury yields are on the retreat ahead of the Fed. However, if the BOJ continues to throw the kitchen sink in order to maintain yield curve control, it is tough to see yen gains qualify as anything but temporary.
This article was originally published by Forexlive.com. Read the original article here.