An article in the Wall Street Jounral for those who may be wondering about the yen moves this morning in Asia:

Japan Picks Ex-Finance Official as Central Bank Chief (WSJ article – gated: a news search may turn up something)

  • Japanese Prime Minister Shinzo Abe plans to nominate Asian Development Bank head Haruhiko Kuroda, a former Finance Ministry official, as the next governor of the Bank of Japan (unnamed sources)
  • Mr. Kuroda’s nomination would still require the approval of both houses of parliament
  • The LDP doesn’t have a majority in the Upper House