It’s not common for government officials to attend a central bank meeting, so this is certainly a special meeting. But I suppose this reflects the delicate situation of the Japanese yen at the moment. The last time this happened was December last year, and before that it was April 2020, during the pandemic.
If there is no firm reaction from Ueda tomorrow, traders may view this as a green light to sell the yen further. USD/JPY is relatively unfazed by the headlines for now, currently remaining supported at 155.60.
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