USDJPY COLLAPSES LOWER
• USD is broadly weaker on shifting drivers and flows.
• CAD is strong as commodity and growth sensitive FX rallies; today’s BoC Financial System Review to outline risk to financial system.
• EUR rallies to fresh high and then recedes; news flow limited.
• GBP trades in narrow range failing to break above the 200‐dayMA.
• JPY stuns market with a further 2% gain as Nikkei collapses 6%.
• AUD is strong as flows begin to shift in its favour. Employment strong on headline but details disappoint.
• Today’s FX markets suggest a shift in flows but Fed still driver.
Read the full report: FX Daily
Scotiabank