The policy chief from Japan's ruling party is having his say on the currency

  • Won't comment on whether further falls in the yen are undesirable for the economy
  • Must be mindful of the pain small regional firms are feeling from rising import costs via a weak yen
  • No gap between ruling party and government view that Japan cannot achieve fiscal reform without strong growth

I've just sat down so I'm not sure if it's these comments that have sent USDJPY higher. The market is a bit touchy over talking heads speaking about the yen and these comments aren't as yen bullish as the ones Kuroda said/didn't say, that got the market all riled up