Japan’s Yen Jumps on Repot of Kazuo Ueda Becoming Next BOJ’s Governor

The Japanese yen jumped on Friday after a report that the Japanese government was set to nominate Kazuo Ueda as the Bank of Japan’s next governor.

The yen rose as much as 0.7% to 130.59 per dollar in the afternoon on Friday.

Ueda is an economist and former member of the BOJ’s Policy Board.

Once appointed, he will replace Haruhiko Kuroda, whose term started on April 9 2018 and will end on April 8 2023.