In Europe on Tuesday (Oct 11), / rose slightly to trade at 145.67, down 0.02 percent.
Amid the rout, Fumio Kishida, Japan’s prime minister, expressed support.
In an interview this week, Mr. Kishida said the BOJ needed to maintain its policy until wages rose broadly and expressed support for current governor Haruhiko Kuroda, ruling out speculation that his term would end early.
‘What Japan needs right now is wage increases, not wage restraint,’ Mr. Kishida said. ‘And the government will be prepared to take corresponding measures to urge companies to raise wages, even as they pass on rising input costs to consumers. By passing on higher prices, we hope companies will have some room to raise wages.’
In the past, salary increases were seen as a cost factor, but going forward, companies need to invest in talent to boost the economy and the business itself.
Usd/JPY pair eased sharply as intervention to protect the yen from wild swings took place, with the yen hovering around the make-or-break figure of 145.90.
