JPY underperforming as markets eye trade developments – Scotiabank
|The Japanese Yen (JPY) is weak, down 0.4% against the US Dollar (USD) and trading heavily in an environment of trade policy uncertainty, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Markets await for CPI next week
"Sentiment is dominating, as we note the continued stability in yield spreads that should provide the yen with some fundamental rate support. Next week’s release calendar is critical, and we specifically highlight Friday’s CPI as an important input to BoJ policymakers’ deliberations into the July 31 meeting."
"A hold is widely expected but recent comments have hinted to the possibility of upward revisions to the central bank’s inflation forecast. We continue to highlight the neutral short-term technical outlook for USD/JPY with support at 142.50 and resistance above 148.00."
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.