Bank of Japan Governor Ueda will speak in Japan's parliament on Friday. HSBC says this poses a risk for the yen, saying "any dovish cues" from Ueda could "work against the JPY".
HSBC refer to yen-dovish remarks from Deputy Governor Uchida a couple of weeks back:
- ForexLive Asia-Pacific FX news wrap: BOJ’s Uchida triggered a sharp yen decline
- BOJ's Uchida: Markets are still volatile so it is unclear how that will affect outlook
and warn of the potential for the same again from Ueda, noting:
- positioning shifting to long yen
- leaves yen prone to setbacks
