JPY Gains Over One Percent Against USD Over Escalating Trade Concerns - Forex News by FX Leaders

JPY Gains Over One Percent Against USD Over Escalating Trade Concerns

Posted Thursday, May 9, 2019 by
Arslan Butt • 1 min read

Demand for safe havens has helped the Japanese Yen surge to a three-month high against the US dollar on Thursday. Chinese Vice Premier Liu He will begin talks in Washington later today which will continue till tomorrow.

Markets wait on the sidelines with bated breath hoping that both world leaders are able to resolve their conflicts and the trade talks proceed towards a deal soon. Global economic growth concerns remain as US engages with a fresh tariff war on China, alleging that China has backtracked on important terms negotiated so far.

Unlike the initial rounds of tariff hikes, even as safe haven demand increases, the dollar isn’t strengthening and making new gains this time around. For now, USD/JPY trades at 109.82 as the Japanese Yen gains more than one percent over the dollar in a month.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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