USD/JPY down to ¥110.250 amid US-China trade talk dispute
The USD/JPY currency pair is down against the backdrop of the US-China trade conflict.
USD/JPY drops as investors seek stability
USD/JPY is still in the range of ¥ 110.250 since the end of a rally in April. The US dollar is strong despite the recent Wall Street volatility caused by US President, Donald Trump, tweeting about increasing Chinese tariffs.
The Japanese yen is usually seen as the safe haven currency during market unpredictability and still strengthened 0.34% despite the uncertainty of the US-China trade dispute against the US dollar.
USD/JPY has fallen within the ¥110.250 to ¥111.00 range.
US dollar to Japanese yen: what to watch for today
USD/JPY rising or falling could be dependent on the progress of the US-China trade agreement and even Trump’s tweets. Makoto Kikuchi, chief executive of Myojo Asset Management, said that US President, Donald Trump, tweeting about raising Chinese tariffs had an unexpected effect on the Japanese yen during the nation’s long weekend holiday of Golden Week.
‘Anything could have happened during the long holiday but the market had not priced in a potential breakdown of the US-China trade talks. That’s a totally unexpected scenario,’ said Kikuchi.
Forex traders will monitor USD/JPY to see how the US-China trade talks will proceed and if they will continue to influence the currencies.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.