USDJPY Plunges As BOJ's Kuroda Says Has "Done What Is Necessary And Possible For Now"

Moments ago BOJ's Kuroda hit the tape with remarks that did not make algos very happy:

  • KURODA SAYS BOJ HAS DONE WHAT'S NECESSARY AND POSSIBLE FOR NOW

and yet:

  • BOJ'S KURODA PLEDGES ALL NECESSARY STEPS FOR 2% INFLATION
  • KURODA SAYS MONETARY POLICY NOT AIMED AT AFFECTING YEN RATE

Algos appear confused: will the BOJ do more to hit the 2% inflation target, or, as the first bullet suggests, is it tapped out? For now, they shoot first and ask questions later, sending the S&P500 carrying USDJPY lower by 60 pips in a matter of milliseconds.

In tried and true Eurocrat copycat fashion, we expect a refutation and clarification saying he did not say what he just said any moment now...