Mizuho Securities strategists Masafumi Yamamoto and Masayoshi Mihara reported that if Bank of Japan Governor Ueda maintains a dovish stance in his speech today, ignoring the recent depreciation of the yen, investors may be more confident in selling the yen. If Ueda only focuses on the yen's impact on annual inflation rates, the view that the Bank of Japan's monetary policy stance is unaffected by exchange rates may be further strengthened. Recently, the tone of the Japanese Ministry of Finance's verbal interventions suggests that there is no urgent need for actual intervention. Note: Ueda is expected to speak at the Japan Business Federation this afternoon.