The Japanese Yen (JPY) is weak, lowering 0.3% against the US dollar (USD) and submiting in front of all G10 currencies, since a part of Wednesday’s impulse is faded to the upper end of its local range, says Shaun Osborne, head of FX Strategy of Scotiabank.
The markets observe weaker data in the context of the fluid perspective of the BOJ
“The publication of disappointing data on cash income seems to be weighing on the currency, since market participants consider their implications for broader inflationary pressures and the Boj’s response.”
“The perspective of the Boj’s policy has been in flow in recent weeks, since agitation in the bonds has questioned the possibility of a change in the general hardening position. Official communication has since affirmed the determination of legislators to continue with the tightening, however, the reports of the subsequent media have suggested otherwise.”
“Ultimately, the JPY remains well backed by the reduction of differentials, since the yields of the JGB have failed to maintain the rhythm of the fall in the yields of the US Treasury bonds. UU.”
Source: Fx Street
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