The Japanese Yen (JPY) is strong, up 0.6% against the US Dollar (USD) and outperforming all of the G10 currencies on the back of hawkish comments from a noted BoJ dove, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The GBP/JPY pair trades 0.4% down to near 199.50 during the European trading session on Monday. The pair falls sharply as weakness in the US Dollar (USD) due to mounting United States (US) government shutdown risks has increased the safe-haven appeal of the Japanese Yen (JPY).
EUR/USD recovers on Friday as traders’ confidence rises that the Federal Reserve would reduce interest rates after the release of the latest inflation report in the United States (US). At the time of writing, the pair trades at 1.1697 up 0.27%.