Ex-BOJ chief Kuroda sees yen intervention impact as short-lived

Former Bank of Japan Governor Haruhiko Kuroda stated that Japan's recent foreign exchange intervention may have temporarily prevented the yen from falling below 160 per dollar, but its long-term effects are limited. Kuroda emphasized that lasting impact requires significant damage to speculators or a shift in market sentiment. He noted that the yen's downtrend is driven by rising oil import costs and interest rate differences between Japan and the U.S. Kuroda believes an equilibrium rate for the dollar/yen is around 120-130, while Japan's economy remains strong with inflation near the central bank's target.