The Japanese Yen (JPY) has risen a modest 0.2 %, surpassing most of the G10 currencies in a quiet trade, says Shaun Osborne, head of FX of Scotiabank FX.
The highest yields offer support to JPY through differentials
“The developments in the bond market continue to dominate the narrative and the last weak auction of Japan bonds is raising the yields of the Japanese government bonds and narrowing the differentials in a way that supports the JPY.”
“National publications have been limited, however, the calendar is dense towards the end of the week with employment data, tokyo IPC, industrial production and retail sales. A speech of the governor of the Boj, Ueda, to the calendar for next week, and will be examined closely in search of any possible change of tone of the face of the policy of June 17.”
“The BOJ has remained decidedly Hawkish since the beginning of the year and its hardening position has been received with turbulence in the bond market in recent weeks.”
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.
