The Japanese Yen (JPY) enters the American session on Tuesday without changes against the US dollar (USD) while consolidating its recent decline towards the lower end of its range of several months, the FX Chief Strategies of Scotiabak, Shaun Osborne and Eric Theoret indicate.
Differentials are still favorable
“The differentials remain stable at the short end and tend to narrow at the long end, offering the JPY a fundamental support.”
“All looks are set at this week’s box meeting despite the expectations of being maintained, since market participants expect in general a change back towards a more aggressive position and a bias towards a new tightening after moderation in the turbulence of the bond market, the celebration of the elections of the upper house and the successful conclusion of the commercial conversations between the US and Japan.”
“Japan will publish retail sales and industrial production data before the decision of the Central Bank.”
Source: Fx Street
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