Yen weakness is still prevalent - Scotiabank

Analysts at Scotiabank explained that the JPY is weak vs. the USD and a mid-performer among the G10 in an environment of broad-based USD strength. 

Key Quotes:

"Japan’s quarterly Tankan sentiment survey has shown considerable improvement, with business conditions among large manufacturers reaching fresh post-crisis highs. Yield spreads remain wide however they are showing signs of stabilization following an impressive shift from early September. 

CFTC positioning remains bearish however the options market is suggestive of a continued rise in demand for protection against JPY strength into the October 22nd election."