- Describing the U.S. economy as "recovering very strongly" and stronger than Japan, BOJ Governor Kuroda says, "In this kind of situation, I don't think it's reasonable to expect the yen to appreciate against the dollar."
- He also sees the yen as "still quite strong" vs. the euro compared with where the pair stood ahead of the financial crisis (the current ¥140 vs. ¥169 before Lehman).
- Kurdoa's talk-down of the yen comes a couple of days after his optimistic comments on the Japanese economy and a signal he was not planning additional monetary ease sent the currency higher.
- Dollar/yen is ahead 0.25% on the session at ¥101.98.
- ETFs: FXY, YCS, JYN, YCL