<p>This via MUFG on the yen and also on Bank of Japan policy ahead. </p><p>MUFG note the strong up move in USD/JPY and say there is room for a further upside move near term. </p><p>On the Bank of Japan, MUFG reiterate their view that the Bank will "abandon Yield Curve Control in Q2". A risk they note, though, is that it "could take longer to make further adjustments to YCC".</p><p>With the FX implication that:</p><ul><li>"It leaves the Yen vulnerable to weakness in the near-term while yields outside of Japan are rising again.”</li></ul><p>--</p><p>I don't know about the Bank of Japan dropping YCC by July. Incoming BOJ Governor Ueda sound very circumspect in his testimony back on Friday and again on Monday. Not rushing into anything is Ueda. </p><p>Friday:</p><ul><li><a href="https://ift.tt/LDaz07T" target="_blank" rel="follow" data-article-link="true">ForexLive Asia-Pacific FX news wrap: BoJ Gov nominee Ueda spoke at length</a></li></ul><p>Monday:</p><ul><li><a href="https://ift.tt/KhlPdpY" rel="follow" target="_self" class="article-link vertical-align-baseline">Ueda says will refrain from committing to maintain BOJ price target at 2% as governor</a></li><li><a href="https://ift.tt/NA1zjOR" rel="follow" target="_self" class="article-link">Incoming BOJ governor Ueda: Monetary policy alone cannot raise prices immediately</a></li><li><a href="https://ift.tt/Ow0umyn" rel="follow" target="_self" class="article-link">Trend inflation must heighten sharply for BOJ to shift to monetary tightening - Ueda</a></li><li><a href="https://ift.tt/7Dl58nB" rel="follow" target="_self" class="article-link">BOJ Ueda says CPI growth will slow under 2% in fiscal year 2023</a></li></ul> This article was written by Eamonn Sheridan at www.forexlive.com.

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