The Japanese Yen (JPY) attracts buyers for the third straight day on Friday and remains close to over a one-month high touched against its American counterpart earlier this week.
The Japanese Yen continues to be underpinned by bets for additional BoJ rate hikes. Geopolitical risk and trade war fears also benefit the JPY’s relative safe-haven status. Trump’s tariff threats cap gains for the JPY and lend some support to the USD/JPY pair. The Japanese Yen remains on the front foot against its American counterpart during the Asian session on Friday and remains close to over a one-month high touched earlier this week.
Concerns that Trump's protectionist policies will boost inflation, along with the Federal Reserve's hawkish outlook, provide a modest lift to the US Treasury bond yields, which underpin the buck. Investors now look forward to the release of the US Personal Consumption Expenditure Price Index – the Fed's preferred inflation gauge – for fresh impetus on the last day of the week. USD/JPY could acelerate the downward trajectory below monthly swing low, around 153.
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