Weak GDP, Rising JGB Yields Weigh on Japanese Yen
BNY's Geoff Yu says soft Japanese GDP and higher JGB yields are undermining confidence in the Bank of Japan's ability to sustain a stronger yen.
JPY
Japanese yen sentiment is under pressure as doubts grow over the Bank of Japan's policy path. BNY's Geoff Yu points to weak GDP data and rising Japanese government bond yields as factors eroding confidence in the central bank's ability to support a stronger currency.
The combination leaves the yen facing headwinds, with markets questioning whether the Bank of Japan can maintain its stance amid soft growth and higher borrowing costs. The note did not provide specific levels or targets.
Source: FXStreet Forex News