USD/JPY hits one-week high; CAD in focus as TD Bank pledges C$150B to Canada

USD/JPY advanced to a one-week high on Monday as the dollar firmed against the yen, with the pair extending its recovery from recent lows amid steady US yields and subdued demand for haven currencies. The move keeps the spotlight on the Bank of Japan's policy timeline, with traders monitoring whether renewed yen weakness prompts verbal intervention from Japanese officials. Separately, TD Bank announced a $150 billion five-year commitment to expand lending, underwriting and advisory services across Canada, framing the initiative as support for a domestic investment supercycle. The pledge is a medium-term positive for Canadian credit conditions and capital formation, though USD/CAD continues to trade primarily on oil prices and the Bank of Canada's rate path rather than private-sector capital commitments. For USD/JPY, resistance sits at the prior weekly high, with support at the recent range base; a sustained break higher would target the psychological round-number level above. USD/CAD traders should watch crude and upcoming Canadian data for direction.