The Japanese Yen (JPY) is weak, falling marginally against the US dollar (USD) but keeping in recent profits, the FX Chief Strategies of Scotiabak, Shaun Osborne and Eric Theoret report.
The markets observe the support of the FED/BOJ
“The perspective for the relative policy of the central banks is still favorable for the JPY, reducing the differentials of interest rates in a way that greatly reflects the revaluation of the Fed instead of any development in the Boj. The communication of the BOJ has been mixed, and the hawk tone has moderated due to the uncertainty in commercial policy.”
“The comments of the Boj Board member, Takata, have leaned towards a ‘temporary’ pause and a resumption of rates rises later this year. The next BOJ’s policy decision is July 31, and the markets are valuing a pause. The valuation for the end of the year has decreased a little, with 13 basic adjustment points compared to 20 basic points a month ago.”
“For the USD/JPY, the technicians are neutral, reflecting the flat consolidation range that has been observed in recent months, with support in half of the 142 and resistance around 148.”
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.
