MUFG says Japan rate increases will accelerate, due to more inflation pressure

MUFG chairman says Japan’s rate increase will be accelerated
because there is more inflation pressure.

Its been an active morning in Asia for yen:

• USD/JPY drops towards 154.00
• Japanese Economic Revitalisation Minister Akazawa says crucial to boost pay
• Japan finance minister Kato – will continue to take action on excessive FX moves

USD/JPY now off its lows:

This article was written by Eamonn Sheridan at www.forexlive.com.