Scotiabank strategists Shaun Osborne and Eric Theoret observe USD/JPY trading near 159, with modest Japanese Yen (JPY) gains offering reassurance to the Ministry of Finance (MoF) after recent weakness. They highlight material efforts to counter Yen depreciation via coordinated Bank of Japan (BoJ) and Federal Reserve (Fed) actions. With BoJ considering a possible hike in the fall and Q2 GDP due next week, they flag policy commentary as key, seeing resistance above 159.50 and support just above 158.50.
MoF reassurance and BoJ hike risk
“The yen is up a modest 0.2% vs. the USD, trading in tandem with the EUR while showing relative…
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