Yen under the spotlight, what's going on? - Scotiabank
|Analysts at Scotiabank explained that JPY was entering the NA session nearly flat vs. the USD on Tuesday following an impressive recovery from early Asian session weakness driven by the release of weaker than expected PPI.
Key Quotes:
"Sentiment remains dominant as we continue to highlight JPY’s remarkable divergence from levels implied by spreads."
"Risk reversals hint to a continued build in the premium for protection against JPY strength across a range of time horizons."
"EUR/JPY is also showing signs of renewed weakness and appears vulnerable following its failure to fully retrace last week’s decline."
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.