Hyun Song Shin: Speech - 76th Anniversary of the Bank of Korea

Chang Yong Rhee: Farewell address

The desk interprets Chang Yong Rhee's farewell address as a pivotal moment for the Bank of Korea, signaling potential shifts in monetary policy direction. Per the full note [source], Rhee emphasized the importance of maintaining economic stability while navigating global uncertainties, which may hint at a more cautious approach moving forward. This aligns with our view that the Korean won could face pressures amid a changing global landscape. As we assess the implications of this transition, the consensus target remains at 1.075, with a range reflecting divergent views among major firms.

Remarks by Executive Director KAMIYAMA at the AIMA Japan Annual Forum 2026 on May 14 (Promoting the Evolution and Stability of Japan's Financial System)

Remarks by Executive Director KAMIYAMA at the AIMA Japan Annual Forum 2026 on May 14 (Promoting the Evolution and Stability of Japan's Financial System)

The desk believes that the Bank of Japan's recent remarks on financial system stability signal a cautious but positive outlook for the JPY. Per the full note [source], Executive Director Kamiyama emphasized the importance of evolving Japan's financial framework, which could support a more resilient currency. This perspective aligns with upcoming economic data releases, particularly the GDP growth rate and balance of trade figures, which may further influence market sentiment. As traders prepare for these key indicators, the consensus target for USD/JPY remains at 1.075, reflecting a range of expectations among major firms.

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