Asia Summary and Highlights 23 Apr
BoJ's Ueda has a barrage of comments on policy stating the obvious
Asia Session
BoJ's Ueda has a barrage of comments on policy stating the obvious on Tuesday's Asia session. He said there is no preset idea on timing and pace of future hike and if trend inflation accelerates BoJ will adjust degree of monetary support through interest rate hike. Suzuki says groundwork have been laid to take appropriate FX action in the G7 meeting but these verbal interventions are carrying little weight after being very repetitive. U.S. Treasury Yields are lower in the far end while JGB yields higher. USD/JPY is trading 0.06% lower at 154.75.
The Wall street Journal reported that US drafting sanctions threaten to cut some Chinese banks off from global financial system, citing their support for Russia from commercial goods that also have military uses. It is not the first time and will not be the last time such sanctions would be used to gain diplomatic leverage to ensure the U.S. sanctions on Russia are fully enforced.. Chinese equities are affected and under performed than their Japanese and Hong Kong peers. AUD/USD is trading 0.14% higher at 0.6458, while NZD/USD slips 0.06% to 0.5916 and USD/CAD unchanged at 1.3699. Else, EUR/USD and GBP/USD are 0.01% higher.