BOJ's Kuroda: Can't say for sure that yen has weakened because of BOJ easing
Further comments by Kuroda
- Currencies won't necessarily move in tandem with monetary policy
- Says that the BOJ is not targeting specific FX rates
- But notes that it is desirable for currencies to reflect fundamentals
He is trying to present a naive way of looking at the currency market but let's be real here.
They know better that if they ease again and if they don't have the strong ammunition to follow through on that - which they have been claiming they have - then there is little doubt the yen will do the same thing it did back in 2016.