JPY soft and underperforming ahead of BoJ Tuesday – Scotiabank

Source Fxstreet

The Japanese Yen (JPY) is soft against the US Dollar (USD) and underperforming all of the G10 currencies in an environment of mild risk appetite, Scotiabank's Chief FX Strategist Shaun Osborne notes, Scotiabank's Chief FX Strategist Shaun Osborne notes.

JPY is unable to break the psychological 140 support level

"This week’s main domestic risk event for JPY is the BoJ policy decision scheduled for Tuesday. A hold is widely anticipated however the uncertainty centers around the tone as policymakers risk softening their decidedly hawkish tone."

"Domestic bond market volatility remains a core concern for the BoJ and recent comments from Gov. Ueda have hinted to the possibility of a less aggressive path for policy normalization. USD/JPY has been consolidating just below the midpoint of its two mount range and remains unable to break the psychologically important 140 support level – for now."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Asian FX Weighed by Dollar Ahead of Fed, BOJ TalksAsian currencies steadied on Tuesday following sharp declines in the prior session, as the U.S. dollar gained support after the announcement of a trade agreement between the United States and the European Union.
Author  Mitrade
7 Month 29 Day Tue
Asian currencies steadied on Tuesday following sharp declines in the prior session, as the U.S. dollar gained support after the announcement of a trade agreement between the United States and the European Union.
placeholder
Bitcoin falls to $117.9K amid Fed and tariff uncertaintyOn Wednesday, Bitcoin experienced a slight decline as it extended its losses from earlier in the week. Traders remained cautious ahead of the Federal Reserve's imminent interest rate decision and an upcoming August 1 deadline for President Donald Trump's tariffs.
Author  Mitrade
20 hours ago
On Wednesday, Bitcoin experienced a slight decline as it extended its losses from earlier in the week. Traders remained cautious ahead of the Federal Reserve's imminent interest rate decision and an upcoming August 1 deadline for President Donald Trump's tariffs.
placeholder
Asia FX Steady as Dollar Softens Before Fed Rate DecisionMost Asian currencies experienced minimal fluctuations on Wednesday, as the dollar saw a slight retreat from its recent advances.
Author  Mitrade
18 hours ago
Most Asian currencies experienced minimal fluctuations on Wednesday, as the dollar saw a slight retreat from its recent advances.
placeholder
Eurozone Economy Posts Modest Growth in Q2, Faces Headwinds from U.S. TariffsThe eurozone economy saw a slight improvement in the second quarter of 2025, growing by 0.1%, according to Eurostat data released Tuesday. This modest expansion outpaced expectations for flat growth, but still marked a sharp slowdown from the 0.6% expansion recorded in the first quarter.
Author  Mitrade
18 hours ago
The eurozone economy saw a slight improvement in the second quarter of 2025, growing by 0.1%, according to Eurostat data released Tuesday. This modest expansion outpaced expectations for flat growth, but still marked a sharp slowdown from the 0.6% expansion recorded in the first quarter.
placeholder
Banco Santander Misses Q2 Profit Forecast by Narrow Margin, Reaffirms 2025 OutlookBanco Santander (BME:SAN) reported a 10% year-on-year increase in pre-tax profit for the second quarter, reaching €5.12 billion. Despite the gain, the figure came in slightly below analysts’ expectations, missing consensus by about 1%, and prompting a nearly 2% drop in the bank’s shares on the Madrid exchange.
Author  Mitrade
18 hours ago
Banco Santander (BME:SAN) reported a 10% year-on-year increase in pre-tax profit for the second quarter, reaching €5.12 billion. Despite the gain, the figure came in slightly below analysts’ expectations, missing consensus by about 1%, and prompting a nearly 2% drop in the bank’s shares on the Madrid exchange.
Related Instrument
goTop
quote