The Japanese Yen (JPY) can also be buying and selling flat towards the US Greenback (USD) and consolidating its current restoration from the decrease finish of its current vary, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
USD/JPY to push to the decrease finish of the current 142- 148.50 vary
“The passing of election danger has shifted the main focus again to fundamentals and the upcoming BoJ coverage choice on July 31. The near-term steadiness of danger favors JPY power as we glance to the opportunity of an enchancment within the BoJ’s tone and its evaluation of the outlook.”
“US/Japan talks are ongoing and negotiators have meet 8 occasions since talks started in April. For USDJPY, we stay bearish seeking to a push to the decrease finish of the current 142- 148.50 vary.”
