An official release from the Bank of Japan states that Kazuo Ueda has been hospitalized. Furthermore, Ueda will not be able to participate in the two-day monetary policy meeting scheduled for June 15 and 16. The meeting will be led by Deputy Governor Ryozo Himino, while another deputy, Shinichi Uchida, will hold the press conference after the decision is made.

There is currently no additional information about Ueda's health; however, the central bank indicated that he is likely to remain in the medical facility for about two weeks. It is expected that the BoJ will raise interest rates by 25 basis points at its June meeting, bringing the base rate to 1%—the highest level in more than three decades.

The table below shows the percentage change of the Japanese yen against key global currencies traded on the exchanges as of Wednesday. The Japanese yen has demonstrated the strongest performance against the Australian dollar.