BOJ member Yukitoshi Funo on the wires
- Price growth is getting slightly sluggish
- But prices will turn up in the longer-term
- Rise in protectionism could affect world economy, trade volume
- Watching developments with a sense of worry
- Needs to watch the risk of trade protectionism and how it affects the economy
- No need to be pessimistic about price trend as economy remains in uptrend
USD/JPY continues to push higher on the day touching a session high of 110.73 now. Funo's comments on price growth aka inflation is a tad dovish but doesn't run away from the standard views from the BOJ.
The Nikkei is also holding up well as we head into the close, and that will add to further support in the pair as we head into European trading later.
