Deutsche Bank analyst expects Bank of Japan Governor Ueda to end YCC in 2 weeks. Yen up.

Deutsche Bank says that while Ueda didn't give much in the way of clues over policy change at his press conference:

• Our Japanese economyist still thinks the most likely outcome is a suspension of yield curve control at the Governor’s first policy meeting in two weeks.

DB says long yen is one of their favoured strategic vies due to:

• Japanese core inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is now running at similar levels to the US and Euro-area and continues to accelerate
• the services sector in Japan is strengthening due to delayed COVID re-opening
• the decline in energy prices is a big boost to the external balance
• USDJPY looks too high versus the existing policy stance likely helped by yen-negative seasonals over March

---

the next BOJ BOJ The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with Read this Term Statement on Monetary Policy is due on April 28, along with updates to the bank's Outlook for Economic Activity and Prices