Japan’s Top FX Diplomat Kanda: G7 statement reconfirmed commitment on forex stance put forth by Japan

The European Central Bank (ECB) Governing Council member and President of De Nederlandsche Bank (DNB), Klaas Knot, said on late Monday that Eurozone inflation is easing towards the 2% target, and geopolitical tensions pose minor threats, but the ECB should still exercise caution when cutting interest rates beyond a first step in June, per Reuters.

The US Dollar Index (DXY), which tracks the US Dollar against a basket of six major currencies, eases and gives up earlier gains driven by the reports of the attack from Israel on Iran, confirmed by US officials.

Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the “focus now is on the pace at which the policy rate will be adjusted and at what level it will eventually stabilize.” Additional quotes Long-term neutral interest rate is highly likely to be lower than that of other countries.