The Japanese Yen has been among the top-performing currencies in the G10 space this week. This has come amid the pullback in both global bond yields and oil prices, two factors that have been a key driver of the Yen this year. Keep in mind that Japan is a net importer of oil and thus lower oil prices should be supportive for the Japanese Yen. Meanwhile, falling global bond yields reduce the yield disadvantage that the Yen has.
