The Japanese Yen (JPY) enters Thursday’s na session with a modest gain against the US dollar (USD), an isolated yield in a slight (although generalized) strength of the USD, says Shaun Osborne, head of Scotiabank FX chief strategist.
The markets consider strong requests for machinery and disappointing PMI
“The requests for basic domestic machinery for March were much stronger than expected, but somewhat attenuated by the publication of disappointments in the preliminary PMIs with a manufacturing data in contraction of 49 and a softer services data that is barely remained expanding in 50.8.”
“The Japan bond market seems to have stabilized something, operating in Tandem with its global peers while leaving the yield differentials unchanged. Finally, it is said that the secretary of the US Treasury of the United States and the Japanese Minister of Finance Kato have met at the G7 meetings in BANFF, affirming their support for the change rates determined by the market.”
Source: Fx Street
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