Scotiabank strategists Shaun Osborne and Eric Theoret report USD/JPY is steady but elevated, with recent gains already surpassing prior intervention-trigger levels. A 25 bps Bank of Japan (BoJ) hike on Tuesday is widely anticipated, and markets price nearly one more increase by December.
Commerzbank’s Volkmar Baur argues that the New Zealand Dollar faces ongoing headwinds as the Iran conflict, higher energy prices and renewed inflation pressures derail a tentative economic upswing.
Commerzbank’s Charlie Lay and Moses Lim note that the Indian Rupee has weakened sharply versus the Dollar in 2026 on higher Oil prices, portfolio outflows and a stronger USD.