The Japanese yen (JPY) is strengthening sharply, climbing 0.8% against the US Dollar (USD) and outperforming most G10 currencies, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
“The JPY is up an impressive 0.8% vs. the USD and outperforming nearly all of the G10 currencies on the back of a meaningful shift in the outlook for relative central bank policy. Spreads are driving JPY gains, allowing it to maintain its relative outperformance in an environment of easing geopolitical tensions.”
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