CAD/JPY

Fundamentals favour the Canadian Dollar by 25 points.

On the Macro Currency Strength Meter, the Canadian Dollar scores +6 and the Japanese Yen scores -19 — a gap of 25 points in favour of the Canadian Dollar. The widest divergence is in risk mood, which favours the Canadian Dollar. All else equal that gap is a fundamental tailwind for the Canadian Dollar against the Japanese Yen — though markets may already have priced much of it in.