External broker reports(aggregated public sources), Scotiabank

Scotiabank

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External broker reports(aggregated public sources)

FX & Rates

<ul><li>USDJPY has rolled over from the upper end of its recent range and the balance of risk favors further near-term downside as we approach the next BoJ policy decision on July 31.</li><li>Recent events have paved the way for USDJPY weakness (JPY strength) following the successful conclusion of US/Japan trade negotiations and the passing of Japan’s upper house election on July 20, key risk events that had kept the BoJ on the sidelines as they waited to resume their policy tightening.</li><li>Japan’s upper house elections had been seen as a major impediment to US/Japan talks and their passing allowed for negotiators to resume discussions with their US counterparts. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

USDJPY has rolled over from the upper end of its recent range and the balance of risk favors further near-term downside as we approach the next BoJ policy decision on July 31.Recent events have paved the way for USDJPY weakness (JPY strength) following the successful conclusion of US/Japan trade negotiations and the passing of Japan’s upper house election on July 20, key risk events that had kept the BoJ on the sidelines as they waited to resume their policy tightening.Japan’s upper house elections had been seen as a major impediment to US/Japan talks and their passing allowed for negotiators to resume discussions with their US counterparts. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Snapshot - USDJPY—Stay Bearish Into July 31 BoJ Meeting