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USD/JPY: rallies on BoJ/Fed expectations - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist explained that JPY is soft, underperforming its G4 peers on the back of disappointing trade data while outperforming most high-beta growth sensitive currencies in an environment of elevated risk aversion.

Key Quotes:

"USD/JPY rallied to a fresh one week high, with further upside likely to be driven by relative central bank policy as market participants reconsider the recent fade in Fed expectations and moderation in expectations for greater accommodation from the BoJ."

'The weaker trade release should weigh on BoJ expectations into the month end meeting."

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