The Japanese Yen (JPY) is up 0.3% in opposition to the US Greenback (USD) and outperforming the entire G10 currencies as we enter Monday’s NA session. Rate of interest differentials are narrowing in a JPY-supportive method as US Treasury yields stay delicate, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
Close to-term threat in Tankan sentiment survey figures
“Markets look like wanting by means of a weaker than anticipated industrial manufacturing launch and disappointing housing begins information. This week’s spotlight would be the launch of the quarterly Tankan sentiment survey figures, scheduled for launch after Monday’s NA shut, and we glance to potential headline threat out of the ECB’s Sintra discussion board the place BoJ Gov. Ueda is scheduled to talk.”
“For USD/JPY, the technical outlook stays bearish because the RSI has drifted beneath 50, opening up the potential for a push towards the latest vary low round 142.50.”
