BoJ Osaka Branch Manager: Important for FX rates to move stably reflecting fundamentals

The Bank of Japan (BoJ) Osaka Branch Manager Hirohide Koguchi made some comments on the exchange rate value in a news conference on Thursday.

Key quotes

“Important for FX rates to move stably reflecting fundamentals.”

“Weak yen has helped boost big manufacturers' profits, support inbound tourism.”

“Yen has bounced back up but remains below levels at outset of 2022, overseas tourists returning to Japan as country re-opens borders.“

“Tourists from China not rising much so far, but those from Europe, US and Southeast Asia clearly increasing in Kansai Western Japan region.”

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