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Bank of Japan (BOJ) Governor Haruhiko Kuroda crossed wires, via Reuters, while heading into Wednesday’s European session.

The central banker initially said to continue with powerful monetary easing persistently before mentioning that it will take time to hit the 2.0% inflation target.

Additional comments

Not the right time to consider unloading BOJ ETF holdings.

When the time comes, BOJ will lay out guidance on how to do so at a policy meeting.

FX implications

Following the news, USD/JPY picks up bids to 108.53 while trimming the early-day losses.