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Risk sentiment hurts the JPY – BTMU

FXStreet (Edinburgh) - Currency Analyst Lee Hardman at BTMU observed the weakness around the yen is increasing on stronger risk sentiment and BoJ easing chatter.

Key Quotes

“The yen has continued to remain on the defensive in the Asian trading session alongside the ongoing improvement in global investor risk sentiment”.

“The improvement in global investor risk sentiment appears to have been driven by building expectations of further policy stimulus to support global growth which is offsetting the negative impact of disappointing economic data releases”.

“The combination of building monetary easing expectations and disappointing economic data releases is helping to keep downward pressure on global yields even as global investor risk sentiment is improving”.

“Yields in the euro-zone continue to fall to record lows and in the US are close to lows for the year”.

“The decline in yields outside of Japan is making foreign assets less attractive to Japanese investors helping to dampen yen weakness in the near-term”.

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