BOJ's Iwata says he doesn't think just increasing ETF purchases will be enough

Comments out from BOJ board member Iwata 4 Aug

  • BOJ not thinking about tightening policy by lowering amount of asset purchases

All helping to underpin USDJPY and Nikkei

  • does not think BOJ will change its thinking dramatically because of policy review
  • policy review is more about making small adjustments
  • does not think overall direction of policy is wrong
  • no plans to change inflation target wording
  • won't loosen stimulus measures at Sept assessment

USDJPY 101.65 on session highs. Expect offers/res between 101.80-102.00

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