Forex Flash: BoJ likely to increase APP by another Y10T from Y101T – UBS

FXstreet.com (Barcelona) - According to Mansoor Mohi-uddin, UBS's Macro Research Head of Foreign Exchange Strategy: "The past week has seen a whole range of comments from Japanese policymakers on the yen. But the stand-out remarks came from Prime Minister Abe's economic adviser Hamada," the analyst says, adding: "He pulled rank on government cabinet members and claimed that yen weakness to 95 or 100 against the dollar was 'nothing to worry about'."

Following today's small sell off in USDJPY from fresh 30-month highs ay 90.24 to recent session lows at 89.42, Mansoor notes that "The BoJ is also likely to increase its quantitative easing Asset Purchase Programme by another Y10trn from Y101trn," he concludes.