USD/JPY: eyes on Fed leadership- Scotiabank

Analysts at Scotiabank explained that JPY is up vs. the USD, outperforming its G4 peers and most of the G10 currencies in an environment of broad-based USD weakness. 

Key Quotes:

"US developments are dominating as market participants consider the potential candidates for Fed leadership and their implications for relative central bank policy."

"U.S.-Japan spreads are showing signs of stabilization following their impressive (JPY-negative) widening from early September."