BOJ’s Sakurai: current Yen not too high vs its level in 2012

Bank of Japan’s (BOJ) Sakurai, while commenting on exchange rate said the current level of Yen is not too highs compared to the one seen in 2012.

Key quotes

FX may overshoot in short term

It is important for FX to reflect fundamentals stably in long-term for monetary policy

Exit from current stimulus programme would be quite some time ahead

Need situation where FX reflects mid- and long-term fundamentals