[MARKET ANALYSIS] JPY ultimately weaker after BoJ Governor Ueda's press conference, as his commentary points us to April's price behaviour as the "factor to mull a rate hike"; which could be interpreted as implying a hike is at least three months away
Importance
Level 1
- There was fleeting and modest strength on language around being attentive to small FX moves and that they will continue to raise rates, if the outlook is realised.
- JGBs benefited from Ueda saying that they will conduct nimble market operations to respond to irregular moves.
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