Japan’s Top FX Diplomat Mimura: US economy’s outlook up to Trump’s macroeconomic policies
Atsushi Mimura, Japan’s Vice Finance Minister For International Affairs and top foreign exchange official, said on Tuesday, “US economy outlook’s up to Trump’s macroeconomic policies.”
Further comments
Need to closely watch if China’s recent export strength will continue.
Inclined not to comment on individual cases, when asked about Nippon Steel-US.
Japan's economy beyond April appears "not that bad," supported by business investments.
Japan's real consumption appears weak.
Must closely watch the next US administration's moves, when asked about forex.
No comment on BoJ's monetary policies.
US President Trump's proposed tax, tariff, and immigration policies are basically inflationary.
Trump administration might revise those policies at some point if inflation accelerates.
Don't think there's any need to change G7 commitment on currencies.
Closely monitoring FX moves on a daily basis.
Volatile FX moves are not desirable.
Market reaction
USD/JPY is flirting with 155.00, falling hard on these comments. The pair is losing 0.35% on the day, as of writing.
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