HSBC is wary of a lower yen later this week ...Middle East

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HSBC is wary of a lower yen later this week
Bank of Japan Governor Ueda will speak in Japan's parliament on Friday. HSBC says this poses a risk for the yen, saying "any dovish cues" from Ueda could "work against the JPY".HSBC refer to yen-dovish remarks from Deputy Governor Uchida a couple of weeks back:ForexLive Asia-Pacific FX news wrap: BOJ’s Uchida triggered a sharp yen declineBOJ's Uchida: Markets are still volatile so it is unclear how that will affect outlookand warn of the potential for the same again from Ueda, noting:positioning shifting to long yenleaves yen prone to setbacks This article was written by Eamonn Sheridan at www.forexlive.com.

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