XE Market Analysis: Europe – Sep 23, 2020

The yen has been trading mixed today. USD-JPY edged above 105.00, while EUR-JPY and other yen crosses have traded softer. AUD-JPY fell by 0.5%, foraying further into 10-week low terrain, as expectations for another RBA rate cut cement in markets, which has been concomitant with recent declines in iron ore and other commodity prices. In Japan today, BoJ Governor Kuroda stressed that the Fed’s recent policy regime change is similar to the stance the Japanese central bank took in 2016, which he described as an overshooting strategy.