JPY STRENGTHENS AS BOJ MAKES NO CHANGE TO POLICY
• USD is strong as EM FX shifts lower and safe havens outperform.
• CAD is weak but outperforming commodity FX; AUDCAD collapses.
• EUR is strong—showing resiliency and benefiting from flows.
• GBP is down but immaterially on encouraging housing and flows.
• JPY is strong up almost 2% after BoJ leaves policy unchanged.
• AUD is weak, down over a 1%, as carry trade unwinds further.
• MXN is weak, down over a 1%, as USDMNX breaks above 13.00.
• INR reaches fresh record low spurring intervention talk.
Read the full report: FX Daily
Scotiabank