UBS AG, Switzerland’s biggest bank, said it hired Daisaku Ueno as a currency strategist based in Tokyo.
Mitsubishi UFJ Financial Group Inc., Japan’s largest bank, said it will hire Daisaku Ueno from UBS AG and Takashi Nakagawa from Daiwa Securities Group Inc. to bolster research on bonds and currencies.
Prime Minister Shinzo Abe’s inflation drive may get a boost as Nomura Holdings Inc. forecasts as much as $200 billion in foreign asset purchases by Japan’s pension funds will weaken the yen.
"If the trade deficit does not noticeably narrow from here, the yen's real effective rate could fall to levels never seen before."
- Daisaku Ueno on Oct 20, 2014