Japanese Yen Continues to Strengthen Over US-Mexico Trade Uncertainties - Forex News by FX Leaders

Japanese Yen Continues to Strengthen Over US-Mexico Trade Uncertainties

Posted Thursday, June 6, 2019 by
Arslan Butt • 1 min read

Market sentiment continued to suffer as the US threatens Mexico with tariffs, even as the trade war with China continues without any resolution in sight. While most other assets including the US dollar suffer, the risk-off sentiment has helped boost demand for safe havens like the Japanese yen and GOLD.

On Thursday, USD/JPY continued to trade bearish as the Japanese yen strengthened. At the time of writing, this forex pair is trading at around 108.24 as fears about global trade tensions continue to weigh on the markets.

Mexican officials have been meeting with their counterparts in the US in a bid to prevent these new tariff hikes. However, the talks have failed to make any progress so far as the US continues to maintain a hard stand against illegal immigration.

The US government alleges that Mexico has not done enough to strengthen its borders and prevent illegal migrants from Central America enter the US in search of asylum.

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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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