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Title: HSBC is wary of a lower yen later this week
Post by: forex4you on Aug 21, 2024, 06:06 am

HSBC is wary of a lower yen later this week

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

This article was written by Eamonn Sheridan at www.forexlive.com.

Source: HSBC is wary of a lower yen later this week (https://www.forexlive.com/centralbank/hsbc-is-wary-of-a-lower-yen-later-this-week-20240820/)

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