USD/JPY Reacts to BoJ Governor Nomination Speculation

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.



USD/JPY has been one of the most active currency pairs in the foreign exchange market, with investors closely monitoring the Bank of Japan (BoJ) governor’s position as Haruhiko Kuroda’s term is set to expire on April 8. A former BoJ policymaker, Kazuo Ueda, is expected to be appointed as the next governor, according to The Nikkei Asia. Shinichi Uchida and Ryozo Himino are also reported to have been offered deputy governor positions.

The news of Ueda’s appointment has sent ripples through the market, causing USD/JPY to test the 130.00 level. The Japanese Yen has appreciated as market participants are starting to price in a move away from the current ultra-loose monetary policy that was charted by the current governor, Haruhiko Kuroda, and the deputy governor, Masayoshi Amamiya. However, reports suggest that Amamiya declined the offer to be considered for the governor’s position, which has added to the uncertainty in the market.

The potential change in monetary policy direction has created a buzz in the financial markets, with investors closely watching the developments. The appointment of Ueda, who has a strong reputation as a monetary policy expert, has been widely viewed as a positive development for the Japanese economy. However, some analysts believe that a change in the direction of monetary policy could cause short-term volatility in the foreign exchange market.

USD/JPY Reacts to BoJ Governor Nomination Speculation

USD/JPY Expected to Remain Volatile in the Near Term

In conclusion, the appointment of Ueda as the next governor of the Bank of Japan and the expected changes in the monetary policy direction have caused the Japanese Yen to appreciate against the US dollar. The USD/JPY pair is likely to remain volatile in the short term as the market adjusts to the changes. The development will be closely watched by the financial markets, and its impact on the Japanese economy and the foreign exchange market will be a critical factor to monitor in the coming months.

 

You can purchase Lucky Block here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *