On April 11, strategists including Joseph Capurso of the Commonwealth Bank of Australia wrote in a report that although Japan’s new central bank governor Kazuo Ueda has signaled that it is unlikely to adjust the monetary policy framework for the time being, considering inflation and wages Trend, the Bank of Japan is still more likely to tighten monetary policy.
USD/JPY will continue to be guided by U.S. Treasury yields and remains on track to rise to 134.68 if financial markets raise expectations for the federal funds rate.