HSBC is wary of a lower yen later this week

[forex4you]

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

forexlive.com