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Ewebute

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04/09/24

23:41

Post #: 75533897
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Originally posted by YMCA: ↑

Something tells me we may be hearing about the Yen Carry Trade again very soon.

Ueda Reiterates That BOJ Will Lift Rates If Outlook Realized

"Bank of Japan Governor Kazuo Ueda reiterated Tuesday that the central bank will continue to raise interest rates if the economy and prices perform as expected by the BOJ, a comment that supported further gains in the yen."

"Ueda made the remark in a document submitted to a government panel chaired by outgoing Prime Minister Fumio Kishida in which he explained the BOJ’s July policy decision."

"The yen firmed against the dollar following the release of the comment, adding to gains for the day as Japan’s currency bucked a weakening trend among G-10 currencies. The yen continued to gain ground to briefly reach 145.61 at around 5:36 p.m. in Tokyo."

"The comments served to remind market players that despite the meltdown in global markets that was partly triggered by the BOJ’s July rate hike, Ueda remains committed to raising borrowing costs provided the bank’s forecasts materialize. In the past, the governor has periodically updated the government panel on latest developments in monetary policy."

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Maybe sooner than soon.. good call

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