The yen is falling

Good morning!

The Japanese yen is down by 0.7% at 104.70 per dollar as of 7:21 a.m. ET.

Earlier on Tuesday, the Bank of Japan released the minutes from its April meeting.

Notably, some members think that overseas economies still pose a negative risk to Japan's economy and prices.

As for the rest of the world, here's the scoreboard:

• The British pound is stronger by 0.3% at 1.4729 after surging to 1.4760 earlier in the morning - a new high for 2016. Remain continues strengthening with the latest poll from The Telegraph showing that it has jumped out to a 7 point lead. Separately, George Soros warned that in the aftermath of a Brexit, the pound would see a greater collapse than on Black Wednesday - the day the Bank of England took the pound off the European Exchange Rate Mechanism.
• The Nigerian naira has stabilized after collapsing by about 40% on Monday when the Central Bank of Nigeria removed the currency's peg to the dollar. The currency is currently around 281.50 to the dollar.
• The euro is little changed at 1.1320 against the dollar after Germany's ZEW sentiment came in above estimates. The ZEW Indicator of Economic Sentiment for Germany rose to 19.2 in June. "The improvement of economic sentiment indicates that the financial market experts have confidence in the resilience of the German economy," said ZEW president professor Achim Wambach.
• The Australian dollar is stronger by 0.4% at .7489 per dollar after touching .7503 - its highest level in about six weeks - earlier in the day. Notably, the tone conveyed by the Reserve Bank of Australia in the minutes of its June monetary policy meeting suggests that the bank isn't itching to cut rates anytime soon.
• The US dollar index is little changed at 93.64 on a quiet day. Data picks up again on Wednesday.

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