Junko Nakagawa, a new member of the Bank of Japan’s (BOJ) board of directors, stated on Wednesday that the central bank must respond flexibly to the economic impact of the COVID-19 epidemic.
“Price and economic downside concerns must be considered.”
“The BOJ’s ETF purchases are part of its monetary easing measures.”
“The BOJ’s ETF purchases benefit the economy and prices.”
“It’s critical to keep monetary easing going indefinitely.”
“Japan’s economy is improving on a long-term basis.”
The foregoing comments had little to no influence on USD/JPY, which continues to trade choppy around 110.50 in the European session on Wednesday.
The price of the spot was last observed at 110.46, nearly steady on the day.

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