Patrick Reid on Kazuo Ueda's testimony: the speech did not give any clues away and kept many of us guessing| FXMAG.COM

Last week next Bank of Japan Governor, Kazuo Ueda, testified, so we've been wondering what are analysts' assessment of the speech, what was important, surprising in it and what kind of monetary policy in Japan can be expected? Last time we heard from Andrey Goilov (RoboForex) and today Patrick Reid (Adamis Principle) provided us with his view on that speech.

Patrick Reid (Adamis Principle): The speech did not give any clues away and kept many of us guessing. You can clearly see this in the reaction to USDJPY as it did not sell off. The big meeting on everyone's radar is the monetary policy one 10th March. I see YYC to be increased to at least 75bps with a potential to 100bps at the next meeting with an additional chance of YCC to move to a shorter duration. The shorter duration This could cause USDJPY to actually rally at disappointment.

Patrick Reid

Patrick Reid – Financial Expert

Patrick Reid is a currency expert with over 15 years experience in trading FX and propriety desks. He has accepted a role as Visiting Lecturer at The University of Cambridge and is Co-Founder of The Adamis Principle which mentors traders at all levels.

During his career he has mentored clients from Goldman Sachs, JP Morgan and Credit Suisse. His passion is nurturing and finding talent within young people has led him to partner with The Youth Group and Jack Parsons, The UK’s chief youth officer. Jack recently interviewed Rishi Sunak, The UK’s Chancellor of The Exchequer. Adamis Principle’s outreach to less fortunate young people is a top priority for him.

Patrick has regular meetings with FX traders at The Bank of England for research and academic discussions only.

Topics

Japanese yen bank of japan kazuo ueda