Yen is the best performer - Scotiabank

Analysts at Scotiabank explained that JPY is outperforming all of the G10 currencies, testing a fresh one month high vs. the USD. 

Key Quotes:

"JPY strength was observed through most of the Asian trading session with a notable whipsaw rally that coincided with the short-lived near-1.5% drop in the Shanghai composite. J

PY appears to be trading in tandem with the broader market tone, leaving it vulnerable to knee-jerk haven-driven gains in the event of a spike in risk aversion.

Near-term domestic risk lies with the release of industrial production data (11:30pm ET) however fundamentals appear to be taking a back seat to sentiment."