JPY softens to fresh multi-month lows – Scotiabank

The Japanese Yen (JPY) is soft, down a marginal 0.1% against the US Dollar (USD) as it extends its decline to fresh multi-month lows at levels last seen in January, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

JPY descends to fresh lows on fiscal/monetary concerns

"Market participants remain concerned about Japan’s macro outlook with a focus on PM Takaichi’s expansionary fiscal plans and risks to the BoJ’s independence given the government’s recent efforts at cooperation. Markets are continuing to soften their expectations for BoJ tightening, fading the chance of a December hike while boosting bets for tightening in early 2026."

Nov 20, 2025

GBP is steady and outperforming on crosses – Scotiabank

The Pound Sterling (GBO) is steady and entering Thursday’s NA session with a marginal gain as it outperforms nearly all of the G10 currencies in overall quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

US weekly Initial Jobless Claims decline to 220,000

There were 220,000 Initial Jobless Claims in the week ending November 15, a decrease of 8,000 from the previous week's level, the US Department of Labor (DOL) reported on Thursday.