Friday, July 27 – Asia Session Recap
During the Asia-Pacific session, markets were relatively quiet given the lack of tier one data or news of note.
JPY continues to remain well supported by expectations for an adjustment to monetary policy from the BoJ. As such, EURJPY and GBPJPY have fallen to print fresh session lows.
Weakness in GBP is also due to the most recent comments from EU chief Brexit negotiator Barnier. According to The Guardian, Barnier stated that PM May’s Chequers plan was a non-starter and the proposal was little changed from a year ago.
The above chart shows GBPJPY’s recent decline with increasing expectations for a policy tweak from the BoJ.
For additional research, we’ve posted news articles from around the web below.