The Japanese Yen (JPY) fell against the US Dollar (USD) for the second consecutive day on Monday, driven by concerns over the impact of US President Donald Trump's new trade tariffs. A broad US Dollar rally and a hawkish stance from the Bank of Japan (BoJ) on interest rate hikes are adding to the JPY's downward pressure. However, a risk-off sentiment and narrowing US-Japan yield differentials could limit further losses for the safe-haven JPY.
The Japanese Yen weakens further against USD amid concerns about Trump’s trade tariffs. Bets for more BoJ rate hikes and the risk-off mood could limit losses for the safe-haven JPY. The narrowing US-Japan rate differential might also contribute to cap the USD/JPY pair. The Japanese Yen drifts lower against its American counterpart for the second straight day on Monday and moves away from over a one-month high touched last week.
USD/JPY might struggle to capitalize on the positive move beyond the 156.25 resistance From a technical perspective, last week's goodish rebound from the 50% retracement level of the December-January rally and the subsequent move up favor bullish traders. That said, any further strength beyond the 156.00 mark might confront some hurdle near last week's swing high, around the 156.25 area.
JAPANESE YEN US DOLLAR TRADE TARIFFS BANK OF JAPAN RISK-OFF
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