JPY traders – heads up for Bank of Japan Governor Ueda to speak from 10am Tokyo time

Bank of Japan Governor Ueda to speak in Japan’s parliament from just after 10am local time

• 0100 GMT
• 2000 US Eastern time

Yesterday we heard from one of his deputies:

• Bank of Japan Uchida says does not expect very easy policy to change in a big way

• BOJ’s Uchida: Future rate path depends on economic, price developments at the time
• BOJ’s Uchida: I won’t make any assessment on market perceptions of future rate path

Uchida sent the yen into a tailspin yesterday. With USD/JPY above 149 and knocking on the door of 149.50 I don’t expect it to have the room to move much lower for the day. I’m sure Ueda will be aware of the desire in Japan to keep yen from slipping much further.

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