The Japanese Yen (JPY) is strong, rising 0.4% against the US dollar (USD) and surpassing all G10 currencies in the opening of NA on Friday, supported by the feeling in an environment of slight risk aversion, reports the Scotiabak FX strategy leaders, Shaun Osborne and Eric Theoret.
Markets observe commercial conversations between the US and Japan
“The domestic publications calendar has been limited to spending data of the strongest households than expected, offering a positive end to a week that leaned towards disappointment (industrial production, beginnings of housing, Tankan).”
“The perspective for relative policy remains favorable, despite the slight moderation in the aggressive bias of the BOJ, since those responsible for the policy seek to continue with the increases of rates after a short -term pause in response to commercial conversations between the US and Japan.”
“The US Treasury Secretary, Scott Besent, highlighted the elections of the Upper House of Japan (July 20) as an internal restriction and an impediment to the conclusion of the conversations. For the USD/JPY, the technicians are neutral with a RSI that does not offer impulse while maintaining around 50. The range remains limited between the support of 142.50 and the resistance of 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.
