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Japanese Yen (JPY) is showing solid gains vs. the US Dollar (USD), up an impressive 0.5% with outperformance against most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
"Japan’s final Q1 GDP was released overnight, showing minor positive revisions and a better overall composition in terms of drivers while still registering a minor contraction overall."
"This week’s calendar is somewhat limited in terms of high-level releases, leaving the focus centered on broader developments ahead of the June 17 BoJ policy meeting. USJapan trade talks are ongoing, and Japan’s negotiator Akazawa is said to be planning a visit to the US this week."
