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JPY is flat against USD – Scotiabank

The Japanese Yen (JPY) is trading flat against the US Dollar (USD) and underperforming all of the G10 currencies in an environment of sentiment-driven USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

JPY is a relative underperformer in pro risk trade

"The JPY’s relative performance is understandable in a risk-on environment, reflecting the yen’s risk profile as a safe haven currency. Fundamental releases have been limited to the release of second-tier PPI, which came in slightly stronger than expected at 2.7% y/y."

"Its translation into implications for the BoJ have been somewhat muddled by lingering and renewed concerns about newly arrived PM Takaichi’s efforts at influencing the outlook for BoJ policy."


GBP buoyed by broader developments – Scotiabank

The Pound Sterling (GBP) is up 0.2% against the US Dollar (USD), a mid-performer among the G10 in an environment of broad-based USD weakness driven by sentiment, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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Euro loses traction against Pound after weak Eurozone Industrial Production

The Euro (EUR) is easing slightly against the British Pound (GBP) on Thursday after earlier climbing to a fresh year-to-date high of 0.8843. At the time of writing, EUR/GBP is trading around 0.8826, snapping a two-day winning streak as traders reacted to disappointing Eurozone data.
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