AUD/JPY declines towards 92.00 as investors expect Ueda-led BoJ to abolish YCC – by Sagar_Dua24 AUDJPY RBA BOJ Bonds YieldCurve
ore losses as the novel Bank of Japan leadership might abolish the Yield Curve Control , as reported by Bloomberg, to allow bonds more freedom and more allowance to the central bank to purchase bonds.job set to be announced Tuesday, bond traders are wagering on a further tweak to yield curve control sooner rather than later and pricing at an end to negative rates around the middle of the year.”
Earlier, BoJ Governor Haruhiko Kuroda announced a tweak in the YCC of 10-year Japanese Government Bonds yield to rise to 0.5% from the current 0.25%. The move was considered a step towards an exit from the decade-long ultra-expansionaryAnd, now the abolishment of the YCC by academician Kazuo Ueda after appointing him as a successor of BoJ Governor Haruhiko Kuroda, as expected, will accelerate the hopes that yen-denominated assets might generate more alpha for investors.
On the Australian Dollar front, investors are awaiting the speech from Reserve Bank of Australia Governor Philip Lower for interest rate guidance, scheduled for Wednesday. Inflationary pressures in the Australian economy have not cooled down amid supply chain bottlenecks, which would compel RBA Lowe to sound hawkish for March monetary policy meeting. The RBA has already hiked its interest
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