The Japanese Yen (JPY) is showing weakness, down 0.5% against the US Dollar (USD) and underperforming all of the G10 currencies as we head into Monday’s North American session, according to Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret.
Markets are closely watching US political developments. Sentiment appears to be a key driver, with investors optimistic about the possibility of an end to the government shutdown.
Fundamental economic releases have been limited to second-tier leading indicators, which have come in as expected. Additionally, comments from the Bank of Japan (BoJ) have leaned somewhat hawkish. New Prime Minister Takaichi has also reaffirmed statements supporting the independence of the central bank.
Overall, the combination of political sentiment and cautious central bank signals is shaping the current currency market dynamics.
https://bitcoinethereumnews.com/finance/jpy-underperforming-on-sentiment-scotiabank/
