Traders bet a Ueda-led BoJ will soon abolish yield curve control – Bloomberg
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Bloomberg came out with the analysis suggesting further challenges to the Bank of Japan’s (BoJ) easy money policy during the incoming Kazuo Ueda’s reign. The news initially said, “With the nomination for the top BOJ job set to be announced Tuesday, bond traders are wagering on a further tweak to yield curve control sooner rather than later and pricing in an end to negative rates around the middle of the year.”
It should be noted that the Japanese government is up for formally announcing their nominations for the BoJ leadership on Tuesday, making Bloomberg’s piece important for the USD/JPY pair traders. Also highlighting the Yen pair is the presence of the first reading of Japan’s fourth quarter (Q4) Eurozone Gross Domestic Product (GDP).
That said, the USD/JPY pair remains mildly bid near 132.40 amid the market’s cautious optimism during early Tuesday morning in Asia.
Also read: USD/JPY Price Analysis: Rejected at 133.00 but remains firm at around 132.40s
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