JPY is outperforming on broader market tone – Scotiabank

The Japanese Yen (JPY) is strong, up 0.5% against the US Dollar (USD) and outperforming all of the G10 currencies in an environment broad-based USD strength and risk aversion, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

JPY reaffirms haven status

"The dominance of sentiment is important, reaffirming the yen’s role as a safe haven currencies—a characteristic with which it has been struggling through recent periods of domestic political turmoil."

"USD/JPY’s technicals are mixed, with modest bullishness in momentum indicators like the RSI and a textbook bearish outside reversal on the candle charts. We are neutral looking to a near-term range bound between 153 and 154."

Nov 4, 2025

GBP weak, underperforming with pro-risk currencies – Scotiabank

The Pound Sterling (GBP) is weak, down 0.6% against the US Dollar (USD) and underperforming most of the G10 currencies in an environment of broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

WTI Price Forecast: Bearish bias intact below 50 and 100-day SMAs

West Texas Intermediate (WTI) trades on the back foot on Tuesday as traders digest the latest OPEC+ decision to pause planned supply increases, with lingering oversupply concerns capping upside momentum.