JPY underperforming G10 – Scotiabank
Source Fxstreet
The Japanese Yen (JPY) is weak, down 0.3% against the US Dollar (USD) and underperforming all of the G10 currencies into Thursday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
This week’s movement ignoring narrower, JPY-supportive spreads
"The preliminary PMI’s were mixed, with a modest improvement in the (still contractionary) manufacturing reading and a slight moderation in the (barely expansionary) services print. CPI data will be the highlight of the week and the release is scheduled for 7:30pm ET."
"Narrowing USJapan spreads remain supportive for the yen, reflecting renewed confidence in BoJ tightening and a continued rise in Japanese yields with the 20Y following the 10Y’s lead in breaking to fresh multi-decade highs."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin slid below the 116,000 mark on Monday, retreating sharply from its record highs achieved last week.
Australian Consumer Confidence Hits 3-Year High on RBA Rate CutsAustralian consumer sentiment soared to its highest level in over three years in August, buoyed by recent Reserve Bank of Australia (RBA) rate cuts and easing cost-of-living pressures, according to a Westpac-Melbourne Institute survey released Tuesday.
Australian consumer sentiment soared to its highest level in over three years in August, buoyed by recent Reserve Bank of Australia (RBA) rate cuts and easing cost-of-living pressures, according to a Westpac-Melbourne Institute survey released Tuesday.
Last week, the S&P 500 continued its upward momentum despite notable shifts in market leadership.
OpenAI Introduces Lowest-Cost ChatGPT Subscription in India with UPI Payment OptionOn Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
On Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
Bitcoin continued its downward trajectory on Wednesday, hitting a two-week low as investors trimmed their positions ahead of the Federal Reserve’s upcoming Jackson Hole symposium.
Related Instrument
