Bank of Japan Governor Kuroda appearing in the Japanese parliament

  • Don't see immediate need to change short, long-term rate target levels
  • Japan's yield curve moving in line with shape we considered desirable at previous policy meeting
  • Have absolutely no plan to reduce BOJ's JGB holdings now
  • Won't be surprised to see super-long JGB yields rise a bit more, BOJ won't attempt to push down super-long JGB yields if they rise more
  • Don't believe it is desirable for Japan's yield curve to flatten
  • Recent 10-yr JGB yields moving in line with BOJ's target of around zero pct

Headlines via Reuters

more to come

Yen not doing too much. The USD is stronger against the EUR & CHF though. Cable is weaker.

Added ... USD/JPY slipping under 104.50