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Trading news
22 Aug 2017
USD/JPY: keeping an eye on the broader tone - Scotiabank
Analysts at Scotiabank explained that JPY is weak vs the USD and a mid-performer among the G10 with a modest retreat from its recent multimonth highs.
Key Quotes:
"The broader tone remains crucial for JPY and yield spreads remain narrow at the lower end of their recent range."
"We continue to highlight JPY’s vulnerability to knee-jerk haven-driven gains and note the added risk posed by extended short JPY speculative positioning."