- Desirable for exchange rate to reflect fundamentals in a stable manner
- No change to stance of sticking to 2% inflation target
- Not hitting 2% inflation target does not mean BOJ efforts are wrong
Besides the mess in deciphering his comments on the yields band, the rest of Kuroda's remarks are pretty much sticking to the script for the most part. So, there isn't much of anything new for market participants to work with.
Further Development
Analyzing the current trading chart of Gold, I found there is completion of the ABC upside corretion and that Gold might trade lower towards the $1,700 level.
Key Levels:
Resistance: $1,750
Support levels: 1,700 and $1,679.