“Raising rates now is inappropriate in light of Japan's economic, price conditions,” Bank of Japan Governor (BOJ) Haruhiko Kuroda said on Friday, as reported by Reuters.

“Pace of Japan's economic recovery still slow so boj must continue supporting economy,” adds BOJ’s Kuroda.

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FX reaction

Although BOJ’s Kuroda speaks more or less the same of what he already stated on Wednesday, the comments appear important as USD/JPY rallied to the highest since 1998 the previous day. That said, the yen pair grinds higher past 147.00 by the press time.

Also read: USD/JPY Price Analysis: Retraces from 24-year highs around 147.60s on soft US dollar