He certainly has a tough balancing act to do today. The BoJ’s policy decision did not achieve much and, given recent inflation data, it is difficult to imagine an overly hawkish approach from Ueda. But the absence of this could be interpreted to mean that they are willing to let the yen fall further.
Ueda is scheduled to begin his press conference at the end of the hour. And usually it lasts about an hour. USD/JPY is up 0.2% at 155.97 on the day, but down from around 156.20 earlier.
This article was written by Justin Low at www.forexlive.com.
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