JPY seeing impressive gains on solid fundamental data – Scotiabank

Japanese Yen (JPY) is strong, up 0.8% against the US Dollar (USD) and outperforming most of the G10 currencies in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.

BoJ to maintain tightening bias

"Domestic data remain strong, and the latest manufacturing PMI offered a modest surprise with a print of 49.4. The solid fundamental outlook should allow the BoJ to maintain its bias toward policy tightening and we’ll be looking for confirmation in Gov. Ueda’s speech on Tuesday."

"USD/JPY technicals are marginally bearish, however this latest decline looks to be threatening a drop to fresh local lows and a push to the longer-term range low around 140."

Jun 2, 2025

GBP gains offer retracement back toward recent multi-year high – Scotiabank

Pound Sterling (GBP) is also showing impressive strength with a 0.6% gain vs. the US Dollar (USD) and mid-performance among the G10, retracing a good portion of its latest pullback from last Monday’s multi-year high, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Gold Price Forecast: XAU/USD resumes its uptrend, heading to $3,365 and $3,415

Gold (XAU/USD) has been one of the major beneficiaries of the US Dollar sell-off on Monday. The Precious metal has surged about $60 so far, as the US dollar drops across the board on a mix of trade uncertainty and looming woes about the US fiscal health.