Japanese Yen (JPY) is weak, down 0.7% against the US Dollar (USD) and underperforming most of the G10 currencies in an environment of broad-based USD strength, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Markets are waiting for BoJ next week
“Tariff headlines are dominating and pressuring the yen as markets consider the possibility of an easing in tensions between the US and China. Domestically, overnight data included the release of stronger than expected CPI data for Tokyo.”
“The BoJ is widely expected to deliver a hold at next week’s meeting, however the statement’s tone will be closely scrutinized for any indications of a shift in the bank’s plans for further tightening.”
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