The following are comments made by a senior Bank of Japan official that have crossed the wires:
“Once Japan achieves its 2 percent target in a sustainable manner, the BoJ will no longer need to maintain enormous stimulus, putting upward pressure on long-term rates.”
‘Will maintain significant monetary stimulus because achieving its pricing target is likely to take time.’
These remarks have elicited no response, despite the fact that USD/JPY continues to rise, now printing 118.39, the highest level since January 2017.
In risk-off conditions, the US dollar is strong at the start of the week.
The Financial Times reported over the weekend that US authorities believe Russia requested military supplies from China. The Chinese embassy in Washington, DC, stated that it was unaware of the situation.