The Japanese yen is tumbling again

Good morning!

The Japanese yen is weaker during an otherwise quiet morning.

The currency is down by 0.8% at 105.69 per dollar as of 7:46 a.m. ET.

As for the rest of the world, here’s the scoreboard this morning:

  • The Turkish lira is stronger by 2.0% at 2.9537 per dollar after plunging by over 5.0% late last Friday amid news of an attempted coup. The coup ultimately failed, and Turkish president Erdogan vowed that those responsible “will pay a heavy price for their treason.” Separately, the Central Bank of Turkey will meet on Tuesday; economists expect the bank to hold rates at 7.5%.
  • The British pound is stronger by 0.5% at 1.3249 against the dollar. Separately, Andy Haldane, the chief economist of the Bank of England, gave a speech in Port Talbot, Wales, in which he described how his thinking about economic inequality in the UK has changed since the 2008 crisis. “So far at least, this has been a recovery for the too few rather than the too many, a recovery delivering a little too little rather than far too much,” he said.
  • The US dollar index is little changed at 96.58 ahead of a light data day. The NAHB Housing Market Index and TIC flows will be released at 10 a.m. ET and 4 p.m. ET, respectively.
  • The euro is stronger by 0.2% at 1.1052 against the dollar.

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