BOJ Gov. Ueda is now on the wires saying:
- There is a chance weak JPY might affect trend inflation and if so could lead to policy shift
- Explained BOJs March decision at meetings; Many counterparties voiced relief the shift did not because distributions in market.
- Don't think big picture changed on US inflation, Fed Outlook
The USDJPY rotated marginally lower and trades at 154.574 after reaching an intraday high of 154.674. Be aware. The big guy is in early and chirping.
More from Suzuki:
- It was meaningful that G7 confirmed commitment that excessive FX moves have negative impact on economy
- No direct discussion on FX at G 20 meeting
- Some G 20 members mentioned how high US rates could lead to fund outflows, rising debt interest payment
