The yen strengthened against other G-10 and Asian currencies in the early morning session amid mild risk-off sentiment.
The risk of a direct U.S. tariff hit on Japanese goods could put the yen under pressure, OCBC strategists said. USD/JPY was last at 151.93.
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Japanese retail investors’ hunger for overseas equities is weighing further on the yen, adding to downside risks posed by tariffs from Donald Trump and the wide interest-rate gap with the US.
With the US Dollar still remaining largely supported against other currencies, the USD/JPY currency pair may not be the best yen cross for those who are bullish on the Japanese currency.
The Japanese Yen pulls back after rising to over a one-month high against the USD. The initial reaction to Trump’s tariff remarks fades amid bets for another BoJ rate hike. A modest USD recovery ...