The Japanese Yen (JPY) is weak, falling considerable 1.2% against the US dollar (USD) and reaching new local minimums while threatening with a thrust to levels not seen since the beginning of April, the Currency Chief of Scotiabank, Shaun Osborne and Eric Theoret.
The markets are still concerned with the dedication of the BOJ to normalization
“The low performance of the JPY is remarkable, in an environment of risk aversion in which its Chf shelter is showing impressive relative profits and a modest fall of only 0.1% against the USD.”
“The prospects for the relative policy of the central banks may be adding risk and weakness related to the terms of exchange, since market participants seem to have underlying concerns about the arrangement of the BOJ to comply with their plans for normalization of the policy.”
“The last meeting of the BOJ offered a less aggressive path for the standardization of the balance, and market participants can also extend this risk to the ROAD OF THE TAKES. In terms of data, the PMI showed an improvement with the manufacturing index exceeding slightly 50 and the services rising to 51.5.”
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.
