Japan’s Finance Minister Katsunobu Kato reaffirmed that decisions on monetary policy rest solely with the Bank of Japan (BoJ), responding to the recent US Treasury report urging further tightening.
On Thursday, the US Treasury Department recommended that the BoJ continue monetary tightening to help stabilize the yen’s weakness and promote a more balanced trade relationship between the two nations.
Market reaction has been muted, with the USD/JPY pair maintaining modest intraday gains for the second consecutive day. The pair currently hovers around the 143.65-143.70 range, staying within its recent weekly trading corridor as investors await the crucial US Nonfarm Payrolls (NFP) data later today.
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