JPY outperforming G10 currencies – Scotiabank

The Japanese Yen (JPY) is up 0.4% against the US Dollar (USD) and outperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.

JPY is well supported in broader recovery

"JPY is up 0.4% vs. the USD and outperforming most of the G10 currencies, extending its recent gains to fresh local highs and threatening a confirmation of its reversal from multi-decade lows."

"There have been no domestic releases but Bloomberg reported that while the BoJ expects tariffs to slow Japan’s economy and possibly delay progress towards its inflation target, it sees no need to change its basic stance of gradual rate hikes for now."