BoJ's Tamura: It is appropriate to maintain monetary easing

Bank of Japan's board member Naoki Tamura has crossed the wires and said that the central bank is currently at a point where it must closely monitor whether Japan can accomplish a positive cycle of rising salaries and inflation.

Further comments

A policy review is required at some point in the future.

It is appropriate to maintain monetary easing.

It will take more time to assess the impact of the Bank of Japan's actions thus far on market function.

USD/JPY update

A rally in US bond yields had been supporting the pair but the Yen is firming in Asia and headed towards a test of the 134.50s.

134.50 is a key structure level: