BoJ governor nominee Ueda: Shortening yield target one among many options in future

USD/JPY has been offered and bid during the comments that came from the new central bank governor, Kazuo Ueda, on Friday.

In the most recent comments to hit the wires, he stated that he will conduct a policy review if needed after hearing others and that he wants to refrain from talking about specifics of yield curve control, YCC, now. He will discuss with the Bank of Japan's officials about yield curve control if approved.

However, he added that he will stop massive bond buying if the 2% target is met and that shortening the yield target is one among many options in the future. He also acknowledged that it can't be denied that the YCC is creating various side effects.

USD/PY update

USD/JPY is testing support near 134.50 and resistance around 134.80 in volatile trade around the comments.