17.04.202602:15:05UTC+00Yen Weakens After Ueda Remarks

The Japanese yen weakened beyond 159 per dollar on Friday, erasing its gains from earlier in the week after Bank of Japan Governor Kazuo Ueda declined to provide clear guidance on interest rates ahead of the central bank’s upcoming policy meeting. Ueda underscored the difficult trade-off facing policymakers, pointing to upside risks to inflation alongside downside risks to economic growth. In past tightening cycles, he had more explicitly signaled policy shifts to prepare markets, and investors had been watching for a similar indication this time. Even so, the BOJ is widely expected to raise its inflation forecasts at this month’s meeting, in part due to higher energy costs. Earlier in the week, the yen had firmed after Finance Minister Satsuki Katayama said she held detailed discussions on foreign exchange policy with US Treasury Secretary Scott Bessent, stressing that authorities remain prepared to intervene decisively if necessary.