JPY came under pressure, briefly breaking through the 150 mark
The yen continued to weaken against the dollar today, falling 0.2 per cent to Y149.84, remaining above the psychological level near Y150. Last week, the yen briefly broke through the Y150 level to hit its lowest level since August, illustrating the currency's weakness in the current currency market.
It is widely believed that the yen's decline is closely related to the Bank of Japan's continued monetary easing and the rise in US Treasury yields. As US interest rates rise further, safe-haven demand for the yen weakens. Chris Weston, head of research at Pepperstone, said in a note that the best trading strategy to reflect the market's concerns about Trump's tariff policy is to go long the dollar against the yen, euro and Swiss franc.
It is widely believed that the yen's decline is closely related to the Bank of Japan's continued monetary easing and the rise in US Treasury yields. As US interest rates rise further, safe-haven demand for the yen weakens. Chris Weston, head of research at Pepperstone, said in a note that the best trading strategy to reflect the market's concerns about Trump's tariff policy is to go long the dollar against the yen, euro and Swiss franc.
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