The yen’s momentum reversed sharply on Friday, perhaps getting ahead of the weekend’s news. Japan’s Prime Minister Shigeru Ishiba announced his resignation following growing pressure within his party to accept responsibility for a historic loss of power in this year’s election.
As the new trading week begins, the outlook for the yen remains fragile. Unless volatility in Japanese government bonds subsides, USD/JPY, EUR/JPY, and GBP/JPY potentially all look tilted to the upside.
This week’s domestic calendar will also draw attention, with final Q2 GDP, August producer inflation, machine tool orders, Reuters Tankan results, and key manufacturing sentiment surveys all in focus.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
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