The Japanese Yen (JPY) is strong, rising 0.8% against the US dollar (USD) and surpassing most of the G10 currencies in an environment of generalized weakness of the USD, says the head of FX of Scotiabank, Shaun Osborne.
The BOJ will keep a hardening bias
“The internal data is still solid, and the last manufacturing PMI offered a modest surprise with a value of 49.4. The solid fundamental perspective should allow the BOJ to keep their bias towards the hardening of politics and we will be looking for confirmation in the speech of the Governor Ueda on Tuesday.”
“The technical graphics of the USD/JPY are marginally bassist, however, this last decrease seems to be threatening with a fall to new local minimums and a thrust towards the minimum of the long -term range around 140.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
