Japanese yen (JPY) weakened 0.5 % against the dollar, leading to reducing resort currencies, as the markets are preparing for soft local data and the upcoming American commercial negotiations for Japan. With the expectation that the BOJ team will keep firmly, JPY remains vulnerable to external risks and self -deficiency of policy, Sean Osborne, the large FX strategy in ScotiaBank.
Focus on data, trade and boj
“JPY is weak, a decrease of 0.5 % against the US dollar and all G10 currencies are committed along with their counterpart in Haven Chif. Local versions focus with industrial production and retail sales prescribed for the release after the NA session.”
“Both are expected to appear weak in March, and therefore BOJ is unlikely to be transmitted on the margin, given the widespread expected reservation at this week’s policy meeting. US/ Japanese trade negotiations are scheduled to continue between Wednesday and Friday, providing an additional danger to the main address on the yen.”
