The yen strengthened on Friday, before trimming some of its gains, after Kazuo Ueda, the figure reportedly tapped as the next Bank of Japan (BOJ) governor, said the central bank's monetary policy was appropriate.
BOJ deputy governor Masayoshi Amamiya had been the front-runner for the governor role, but the Nikkei reported that he had declined the job.
"The BOJ's exit from ultra-easy monetary policy is still highly dependent on what happens during the spring wage negotiations, but a new regime could mean there's no love lost on the ultra-loose policy side," he added.James Malcolm, head of FX strategy at UBS, said Ueda's nomination should be perceived as a "hawkish" outcome, given Ueda's previous criticism of the BOJ's monetary policy as far back as 2016.
"Both Norway and Sweden are in a pretty similar boat, struggling to get domestic inflation pressures under wraps," Monex Europe's Harvey said.
Norge Siste Nytt, Norge Overskrifter
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