Japanese Yen: Limited impact from BoJ leadership absence – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes USD/JPY is trading tightly around 160.50, just below its late-April pre-intervention high, with a 25 bps Bank of Japan (BoJ) rate hike to 1.00% already fully priced. Governor Ueda’s hospitalization and absence from next week’s meeting are seen as having limited short-term implications, with deputies expected to maintain continuity.
Yen steady with hike already priced in
"USD/JPY is trading in a tight range around 160.50, just shy of its April 30 pre-intervention high of 160.72."
"Bank of Japan (BoJ) Governor Kazuo Ueda's absence at next week’s policy meeting due to hospitalization has limited short-term implications."
" A 25bps BoJ rate hike to 1.00% is already fully priced-in and the upcoming meeting does not include updated economic projections."
"BoJ Deputy Governor Ryozo Himino will serve as acting chair while Deputy Governor Shinichi Uchida, will host a post-meeting press conference. Both individuals have consistently voted in line with Governor Ueda."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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