Japanese Yen JPY is outperforming nearly all the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
PPI adds to support
"JPY is outperforming nearly all the G10 currencies, with the exception of CHF, entering Thursday’s NA session with an astounding 1.5% gain vs. the USD. The safe haven currency is outperforming on the back of a shift in the broader market’s risk tone. Domestic releases have provided for some fundamental strength as well, with markets reacting positively to stronger-than-expected PPI data."
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