JPY underperforming along with haven peer CHF – Scotiabank
|The Japanese Yen (JPY) weakened by 0.5% against the dollar, underperforming even fellow haven currencies, as markets brace for soft domestic data and upcoming US-Japan trade negotiations. With the BoJ expected to hold steady, JPY remains vulnerable to external risks and policy inertia, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Focus on data, trade, and BoJ
"JPY is weak, down 0.5% vs. the USD and underperforming all of the G10 currencies along with its haven peer CHF. Domestic releases are in focus with industrial production and retail sales scheduled for release after the NA session."
"Both are expected to show weakness in March, and are therefore unlikely to move the BoJ off the sidelines, given the widely expected hold at this week’s policy meeting. US/ Japan trade negotiations are set to continue between Wednesday and Friday, offering additional headline risk for the yen."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.