BOJ deputy governor nominee Amamiya with more comments 7 March

  • good for global economy

I.E it might help weaken the yen cos we've run out of ideas and ammo.

  • careful communication is important
  • effects of mon pol surprising market won't last long
  • technically possible to deepen neg rates
  • must look at merits.demerits in deepening neg rates

Seems like Amamiya has all the credentials for a job at the BOJ. Prattle on every day about the same things.

Meanwhile USDJPY remains on the back foot at 105.70 with GBPJPY selling once again capping cable and other core pairs. Normal service is resumed as I noted yesterday.