Yen Weakens, Market Warns of Trump's New Policy Direction
The Japanese Yen (JPY) started the week on a weak note after the market reacted to US President Donald Trump's change in tariff policy toward China. Improved investor sentiment failed to lift the Yen, although the currency had previously recovered from its lowest level since mid-February. The USD/JPY pair hovered around 152.00, held back by the weakening US dollar in Asian trading.
The divergence in policy direction between the Bank of Japan (BoJ) and the Federal Reserve (The Fed) also limited the Yen's room to move amidst quiet trading conditions due to holidays in Japan and the US. Despite this, the short-term outlook remains negative for the Yen, with many analysts viewing any gains as selling opportunities. However, the market remains wary of potential Japanese government intervention to stem further weakening of its currency. (az)
Source: Newsmaker.id