Yen carry trade unwind risk could return if BOJ's Ueda strikes dovish tone, says UBS

Tan Teck Leng of UBS Global Wealth Management says if BOJ Governor Kazuo Ueda strikes a dovish tone despite rising inflation risks, the yen could break above 160 to the U.S. dollar, reviving fears of another yen carry trade unwind. He says Japanese authorities are already closely watching the currency and could step in with rate checks or intervention if yen weakness accelerates.