The Japanese Yen (JPY) is strengthening again, up 0.3% against the US Dollar (USD) as USD/JPY moves back toward Monday’s lows and threatens a broader retracement of its mid-November weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Euro (EUR) is trading flat to the US Dollar (USD) while outperforming most of the G10 currencies as it consolidates in a tight range around 1.16, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The US Dollar remains bid against a softening Japanese Yen on Tuesday's European trading session. A somewhat brighter market mood is weighing on JPY, and provides support to the Greenback to extend its recovery from Monday’s lows near 154.65 to levels above 156.00 at the time of writing.