The Japanese Yen (JPY) is strong, up 0.7% against the US Dollar (USD) and outperforming all of the G10 currencies as we head into Tuesday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The EUR/USD posts marginal gains at 1.1760 following a two-day rally on Tuesday. The US Dollar remains on the defensive with investors anticipating a sharp downward revision of US employment figures, although the political crisis in France keeps weighing on Euro (EUR) bulls.
The yen and Japanese government bonds briefly weakened after Prime Minister Ishiba’s resignation fueled speculation of a policy shift under potential successor Sanae Takaichi.