Bank of Japan Governor Kazuo Ueda will deliver a speech on Friday, August 1, following the BOJ’s monetary policy meeting. In his previous address in June, he discussed the need to carefully weigh the pros and cons of rate hikes given the current inflationary landscape, particularly risks stemming from geopolitical tensions in the Middle East. Dovish remarks in April had contributed to Bitcoin rallying above $70,000, buoyed by a weaker yen that made carry trades more attractive. Traders are watching for any signals on inflation expectations, energy costs, and the pace of monetary policy normalization. This time, the main uncertainty lies in inflationary pressures from energy costs and Middle Eastern geopolitical tensions.
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