In the absence of significant economic releases, the movement of the yen is generally driven by external factors. It is worth noting the latest comments of the new head of the Bank of Japan, Kazuo Ueda. Today, speaking in parliament, he said that the regulator will continue to achieve the central bank's inflation target of 2.0%, easing monetary policy, even though this may take a considerable time. Ueda also stressed the need for Japanese firms to increase investment in human capital, saying that economic growth should lead to higher wages and keep inflation rising. In general, these comments disappointed market participants, who are counting on the fact that the new chairman of the regulator will change the course of his predecessors, give up control of the bond yield curve and start raising interest rates.
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