The Japanese Yen (JPY) is quietly consolidating its current pullback, searching for assist following a poor begin to July, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
JPY is trying stabilization following tariff-driven weak spot
“Commerce tensions have weighed on the yen, as markets have reacted to the US announcement of 25% tariffs from August 1. There stays hope nonetheless, given the potential of a final minute settlement within the interval following the July 20 higher home elections.”
“Commerce developments have been an vital consideration for the BoJ, as uncertainty has compelled the central financial institution to pause its coverage tightening. The subsequent BoJ resolution is on July 31 and markets are pricing a maintain.”
