JPY steady just above broken range low – Scotiabank

The Japanese Yen (JPY) is trading flat against the US Dollar (USD) and attempting stabilization just below the lower end of the (broken) range that had held since early May.

JPY steady amid bond market volatility

"Long end JGB yields have pulled back from their recent highs, however recent price action reveals a considerable amount of concern as we head into this weekend’s upper house elections. The near-term BoJ outlook is neutral, owing to trade policy uncertainty."

"However, the longer-term risks remain tilted to further tightening with a possible rate hike as soon as October. Japan releases trade data at 7:50pm ET and CPI on Thursday (local Friday). For USDJPY, we look to consolidation around current levels and note the importance of the 200 day MA (149.71) as an important level of longer-term resistance."

Jul 16, 2025

GBP fades short-lived CPI rally – Scotiabank

The Pound Sterling (GBP) is also steady and attempting stabilization following a recent run of weakness, holding on just above its late June low – a break of which would call for a shift in the bull trend, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Gold Price Forecast: XAU/USD wobbles around 20-day EMA ahead of US PPI data

Gold price (XAU/USD) trades in a tight range around $3,335 during European trading hours on Wednesday. The precious metal consolidates as investors await the United States (US) Producer Price Index (PPI) data for June, which will be published at 12:30 GMT.