JPY fades as sentiment recovers – Scotiabank

FXStreetApr 23, 2025 1:20 PM

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Japanese Yen (JPY) is soft, down 0.2% against the US Dollar (USD) and underperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.

JPY may consolidate further

"JPY is soft, down 0.2% vs. the USD and underperforming most of the G10 currencies along with its haven peer CHF within the broader context of mild risk appetite."

"The violent two-way price action observed over the past 24 hours hints at the potential for near-term consolidation as markets assess shifting risks around sentiment given headlines related to Trump, trade, and the Fed."

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