The post JPY hits lowest since July 2024 on snap election speculation – Scotiabank appeared on BitcoinEthereumNews.com. The Japanese Yen (JPY) fell 0.5% againstThe post JPY hits lowest since July 2024 on snap election speculation – Scotiabank appeared on BitcoinEthereumNews.com. The Japanese Yen (JPY) fell 0.5% against

JPY hits lowest since July 2024 on snap election speculation – Scotiabank

The Japanese Yen (JPY) fell 0.5% against the US Dollar (USD), underperforming all G10 currencies, as speculation over PM Takaichi’s snap election drove renewed selling and pushed USD/JPY toward levels last seen in early 2025, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.

USD/JPY eyes 160-162 as market assesses Takaichi plans

“The yen is weak, down 0.5% vs .the USD and underperforming all of the G10 currencies with a clear extension of its latest bearish break and push through levels last seen in early 2025 to reach lows not seen since July 2024. Domestic developments are bearish as market participants assess the resurgence of political uncertainty amid reports of PM Takaichi’s plans to call a snap election.”

“The PM’s high approval ratings appear to be motivating this decision as she would seek to strengthen her mandate and secure a single party majority. Takaichi is a fiscal and monetary dove, and Japanese bond yields have surged in response to these latest developments.”

“The one-sided nature of the latest selloff in the yen is somewhat concerning and may prompt verbal intervention from the ministry of finance. Japan’s Finance Minister Katayama is said to have already spoken to Treasury Secretary Bessent. For USD/JPY, we now look to the psychologically important 160 level and the July 2024 high just below 162.”

Source: https://www.fxstreet.com/news/jpy-hits-lowest-since-july-2024-on-snap-election-speculation-scotiabank-202601131456

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