Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Feb 23 - 06:55 PM

JPY: BoJ Governor Confirmation Hearing Is Next Key Event Risk - MUFG

By eFXdata  —  Feb 23 - 03:00 PM

MUFG Research discusses JPY outlook in light of tomorrow's BoJ Governor confirmation.

"The next main focus for FX markets this week will be upcoming comments from Kazuo Ueda who is scheduled to speak in parliament on Friday and Monday as part of his confirmation hearing to become the next BoJ Governor. The yen initially strengthened when it was announced that the government had chosen Mr Ueda to become the next BoJ Governor but has since given back all of those gains, and this month’s rebound for USD/JPY has extended back up toward the 135.00-level. Renewed upward momentum for US yields driven by the hawkish repricing of Fed rate hike expectations has helped to lift USD/JPY," MUFG notes.

"Comments from Mr Ueda have the potential to trigger a pick-up in speculative yen buying again at the end of this week and higher yen volatility. Our analysts in Tokyo currently expect the BoJ to bring an end to QE under the new Governor but to leave negative rates in place this year," MUFG adds.

MUFG Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved