Westpac on tomorrow’s BOJ and potential support for the Yen:
- This week’s BoJ is not expected to produce any policy tweaks, but Ueda could nevertheless strike a hawkish chord, similar to the recent interview where he signalled openness to ending negative rates.
- US Tsy Secretary Yellen’s comments that intervention would be “understandable” give BoJ officials even more leeway to push back on JPY weakness too.
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