JPY underperforming on sentiment – Scotiabank
Source Fxstreet
The Japanese Yen (JPY) is weak, down 0.5% against the US Dollar (USD) and underperforming all of the G10 currencies as we head into Monday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Markets eye US political developments
"Sentiment appears to be dominating, with markets cheering the possibility of an end to the government shutdown. The jump in US yields has weighed on the yen via spreads, though risk reversal remain largely unchanged suggesting little in terms of sentiment."
"Fundamental releases have been limited to second-tier leading indicators, which came in as expected. Comments from the BoJ have also leaned somewhat hawkish, and new PM Takaichi has reaffirmed comments respecting central bank independence."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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