Yen performing in braod based dollar weakness, what is Abe hiding? - Scotiabank

Analysts at Scotiabank noted that JPY is up from Wednesday’s close.

Key Quotes:

"...Outperforming all of the G10 currencies with the exception of AUD, pushing toward Tuesday’s multi-month high in an environment of broad-based USD weakness."

"The broader tone is dominating as we note JPY’s material divergence to levels implied by interest rate differentials. Headline risk is elevated and PM Abe has faced questions about FX in parliament. Abe suggested that FX was not an appropriate subject of discussion for leaders, deferring to his finance minister."