US President Donald Trump riled markets by his comments yet again. The resulting bid for haven allowed the Japanese yen to gain on the US dollar and some other currencies, like the Great Britain pound. Japan’s macroeconomic data helped the Japanese currency as well.
Trump threatened to shut the government down if it will not fund the wall between the United States and Mexico, which was the focus of his election campaign. Additionally, he signaled that the North American Free Trade Agreement may be terminated.
The Nikkei Flash Japan Manufacturing Purchasing Managersâ Index rose from 52.1 in July to 52.8 in August, exceeding market expectations.
USD/JPY fell from 109.55 to 109.30 as of 11:20 GMT today, backing off from the daily high of 109.82. GBP/JPY dropped from 140.45 to 140.05.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.