BOJ governor Ueda: Need to patiently continue monetary easing to support the economy

<ul><li>The uncertainty remains very high on the economy, prices</li><li>Will not hesitate to ease policy further if needed</li><li>Decision today is aimed at making YCC more sustainable</li><li>Long-term rates could move beyond 0.50% cap</li><li>BOJ will step in if rates exceed 1% mark</li></ul><p>These are mostly token remarks by Ueda, as he just reaffirms the step that the central bank has taken today. USD/JPY is keeping a decent bounce though in the last hour, coming back up to be up 0.1% at 139.58 currently. The low earlier touched 138.05 after the BOJ policy decision.</p>

This article was written by Justin Low at www.forexlive.com.