Japan Fin. Min Azumi speaks in Parliament
- Japan is always ready to take bold action on currency.
- Won’t comment on currency levels.
- Can’t saw what is the “correct” JPY level for the economy.
- Won’t place restrictions on intervention.
- Well aware that some companies are hurt by strong JPY levels.
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usd/cnh rallying after breaking out of sideways channel.
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usd/sgd looking to test the top of this channel.
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oil/usd trading in a sideways channel.
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ECB’s Coeure on the wires…
- Core inflation more benign than headline figure.
- Good reason to think 2nd round oil effects will be limited.
- Inflation forecast duet o commodities, indirect taxes.
- The need for bond purchases has decreased.
- Bond program to remain in place for ‘some time”.
- doesn’t want LRTO to lead to fragmentation of the bond market.
- Too soon to talk about an exit from emergency ops.
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