BOJ governor Kuroda at the IIF spring meeting 9 May

  • globalization may have reached a turning point of sorts
  • authorities are watching banks' profitability closely
  • must also ensure banks don't take excessive risks
  • need to monitor USD denominated debt in emerging economies
  • major economies cannot ignore currency mismatch because rising US rates could raise dollar funding costs

Be careful what you wished for then eh Mr K ?

Overcome self-interest? Feel free to lead the way Japan.

Meanwhile USDJPY remains underpinned above 113.00 now we've finally broken through. Next target/res 113.50