BOJ governor Ueda says will continue to watch impact of FX on economy, prices

If FX fluctuations affect underlying inflation, that could be a consideration for monetary policyWeak yen is not having a big impact on trend inflation so farBut weak yen did have some impact to an extent on higher inflation forecastsLikelihood of achieving 2% inflation target is gradually rising

USD/JPY is up a little more as it seems what Ueda isn’t saying is the more important takeaway here. The pair is now at 156.15, up 0.3%, from around 155.95 earlier when he began speaking.

This article was written by Justin Low at www.forexlive.com.