BoJ Deputy Gov Nakaso: more time needed to reach 2% price target

The BoJ Deputy Governor Hiroshi Nakaso was on the wires in the past hour noting that domestic labor productivity is improving and very tight labor market will translate into higher inflation, though a little more time would be needed to reach the price target of 2%.

In the meantime, the USD/JPY pair breaks below the 108.00 handle for the first time since mid-November 2016.