BoJ Policy Tweak Expectations Continues To Support JPY

During the Asia-Pacific session, JPY continues to remain well supported by expectations for an adjustment to monetary policy from the BoJ.
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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.

Finally, USD remains well supported by positive expectations for today’s US GDP report. This follows comments from Trump that he believes today’s GDP figures will be terrific.

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.

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