No surprises there as he refuses to be drawn on possibility of Fed action this week

  • says any Fed rate hike would suggest confidence in US economy which is positive for Japan and global economy
  • thinks emerging economies are less concerned about US Fed rate hike triggering capital flight

"No comment" followed by a comment or two

Gotta laugh huh?

  • China has plenty of room for policy action
  • Japanese economy contracted in Q2 but grew a lot in Q1
  • need to take Q1 growth into account when assessing economy
  • won't be unusual for Q3 to grow

USDJPY does indeed find support at 119.50 and now climbs back to 119.77 after that little shake out

EURJPY demand at 135.00 with 135.24 now trading after 135.07 lows