Yen's Slide Tests Ueda's Capacity to Calm Markets

The yen's relentless slide has put Bank of Japan Governor Kazuo Ueda in the spotlight as he prepares to speak after the central bank's policy meeting on Friday.

Market participants are closely watching Ueda's comments for any signs that might indicate a change in the BOJ's interest rate stance, which could impact the yen's value.

The Japanese currency has been under pressure due to rising oil prices, fiscal concerns, and wide interest-rate differentials, despite a record intervention by the authorities in the last quarter.

According to economists surveyed by Bloomberg, half expect the BOJ to wait until December to lift its benchmark interest rate, with Prime Minister Sanae Takaichi's government seen as a potential obstacle to further action.