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USD/JPY clipped lower following more Takaichi comments
The Japanese PM has just been speaking over the wires a moment ago and once again stressing the need for companies to invest more into Japanese stocks and bonds. The impact of her comments shunted the USD/JPY to fresh session lows a moment ago, touching 162.13. At the same time, it is important to note that these are not new comments, merely a repeat of what she said earlier in the week.
Nevertheless, the inference is clear, the powers that be are clearly a little concerned by the prospect of the Nikkei 225 peaking (as we have been warning about for some while) and keen to try and use rhetoric to prop the edifice. That is not lost on the USD/JPY and we do repeat what we said earlier about the level of the USD/JPY being out of kilter right now with the Nikkei 225.
The USD/JPY is off the lows as we sign off, currently trading at 162.22
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