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Japanese Yen Continues to Strengthen Over US-Mexico Trade Uncertainties

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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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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