Published: 2024-08-23T05:05:49.000Z
USD/JPY flows: Ueda Reinforeces July BoJ Rhetoric
FX Analyst
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Bank of Japan Governor Ueda says real rates likely remain negative
BoJ Ueda will adjust monetary easing if our economy price outlook is likely to be achieved
Japan National July CPI Headline 2.8% y/y vs. 2.7% expected
BoJ's Ueda spoke in front of the parliament on Friday and seems to reinforce the hawkish rhetoric in the BoJ's July meeting. It suggest deputy governor's remark on rates and market instability merely an act of verbal intervention. Ueda continue to points towards more tightening if inflation forecast plays along with BoJ's playbook despite uncertainty. Fortunately, the latest headline July CPI lingers close to 3% at 2.8% y/y with ex fresh food also at 2.7%, should be supporting BoJ's decision now.
USD/JPY slipped 0.35% for the session so far to 145.76 with a session low at 145.29.