The Japanese yen is slipping again - here's what's happening in FX

Good morning!

The Japanese yen is lower for the third time in four days.

The currency is weaker by 0.9% at 109.38 per dollar as of 7:58 a.m. ET.

Earlier in the day, Takatoshi Ito, a professor at Columbia University and former colleague of Bank of Japan head Haruhiko Kuroda, told Reuters that if inflation indicators weaken and stock prices drop, then the BOJ could ease again in June or July.

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

• The Brazilian real is stronger by 0.4% at 3.4378 per dollar after Brazil's senate voted 55 to 22 in favor of suspending President Dilam Rousseff and putting her on trial. Vice President Michel Temer will now take the helm. Still, some analysts have noted that getting rid of Rousseff alone isn't enough to fix some of bigger issues in Brazil.
• The British pound is little changed after the Bank of England held its key interest rate at 0.50% for an 86th straight month. The bank lowered both its second quarter growth estimate to 0.3%, down from 0.5%, and its 2016 GDP forecast to 2% from 2.2%.
• The Russian ruble is stronger by 0.5% at 64.7019 per dollar on the heels of Wednesday's crude rally. Brent crude is up 1.0% at $48.08 per dollar.
• The euro is weaker by 0.4% at 1.1380 after the latest data showed industrial production in the eurozone fell 0.8% in March, below estimates of a 0.1% increase. For what it's worth, Deutsche Bank has raised its forecast for the euro against the dollar, according to a Reuters report cited by Investing.com.
• The US dollar index is stronger by 0.3% at 94.09 ahead the latest data on initial jobless claims and import/export prices.

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