Japanese Yen trims part of intraday losses as trade jitters boost safe-haven demand
The post Japanese Yen trims part of intraday losses as trade jitters boost safe-haven demand appeared on BitcoinEthereumNews.com. The Japanese Yen meets with a fresh supply as traders pare BoJ rate hike bets amid rising trade tension. Domestic political uncertainty also undermines the JPY and provides a goodish lift to the USD/JPY pair. The USD sits near a two-week top amid reduced Fed rate cut bets and contributes to the pair’s move up. The Japanese Yen (JPY) rebounds a few pips from a multi-week trough touched against a broadly firmer US Dollar (USD) earlier this Friday, though retains a bearish bias heading into the European session. US President Donald Trump recently imposed a 25% tariff on all Japanese exports to America starting on August 1 and ruled out any extension of the deadline. This adds to woes for Japan’s economy, which, along with declining real wages and signs of cooling inflationary pressures, should allow the Bank of Japan (BoJ) to forgo raising interest rates this year. Apart from this, domestic political uncertainty turns out to be a key factor undermining the JPY. Meanwhile, concerns about the potential economic fallout from higher US tariffs keep investors on edge. This is evident from a weaker tone around the US equity markets, which offers some support and helps limit losses for the safe-haven JPY. The USD, on the other hand, stands firm near a two-week top amid diminishing odds for an immediate interest rate cut by the Federal Reserve (Fed). Moreover, the supportive fundamental backdrop suggests that the path of least resistance for the USD/JPY pair remains to the upside. Hence, any corrective pullback could be seen as a buying opportunity and remain limited in the absence of any relevant data. Japanese Yen trims a part of heavy intraday losses amid safe-haven buying US President Donald Trump reignited trade war concerns this week and issued notices to key allies, including Japan,…
The post Japanese Yen trims part of intraday losses as trade jitters boost safe-haven demand appeared on BitcoinEthereumNews.com.
The Japanese Yen meets with a fresh supply as traders pare BoJ rate hike bets amid rising trade tension. Domestic political uncertainty also undermines the JPY and provides a goodish lift to the USD/JPY pair. The USD sits near a two-week top amid reduced Fed rate cut bets and contributes to the pair’s move up. The Japanese Yen (JPY) rebounds a few pips from a multi-week trough touched against a broadly firmer US Dollar (USD) earlier this Friday, though retains a bearish bias heading into the European session. US President Donald Trump recently imposed a 25% tariff on all Japanese exports to America starting on August 1 and ruled out any extension of the deadline. This adds to woes for Japan’s economy, which, along with declining real wages and signs of cooling inflationary pressures, should allow the Bank of Japan (BoJ) to forgo raising interest rates this year. Apart from this, domestic political uncertainty turns out to be a key factor undermining the JPY. Meanwhile, concerns about the potential economic fallout from higher US tariffs keep investors on edge. This is evident from a weaker tone around the US equity markets, which offers some support and helps limit losses for the safe-haven JPY. The USD, on the other hand, stands firm near a two-week top amid diminishing odds for an immediate interest rate cut by the Federal Reserve (Fed). Moreover, the supportive fundamental backdrop suggests that the path of least resistance for the USD/JPY pair remains to the upside. Hence, any corrective pullback could be seen as a buying opportunity and remain limited in the absence of any relevant data. Japanese Yen trims a part of heavy intraday losses amid safe-haven buying US President Donald Trump reignited trade war concerns this week and issued notices to key allies, including Japan,…
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