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BoJ Kuroda speech: Working to reach 2% inflation in 2 years

FXstreet.com (Barcelona) - BoJ Kuroda speech to the central bank's branch managers was made public at 00.30GMT. The key headline was an old one though, as he said "to work to achieve price target within 2 years."

According to the new governor, there seems to be indications that the poor economic performance in Japan is about to find a bottom, with the latest indicators showing signs of recovery, and an initial rise in inflation expectations.

He continued saying that Japan’s financial system is sound and stable, adding that he expects ongoing easing policies will change perceptions by influencing interest rates and asset prices.

With regards to global financial markets, he highlighted the ease in risk aversion as the main feature allowing markets to recover the confidence. He expects to see an end to low prices as inflation expectations rise.

Forex: Kiwi surrenders some gains, still notches impressive week (+1.95%)

The NZD/USD closed the New York session down 41 pips at 0.8588. The pair still notched an impressive week, finishing up 1.95% and closing above key resistance (0.8480) on the weekly chart. Currently, the pair is edging lower in early Asia trade, down 22 pips at 0.8566.
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