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    USD/JPY Dropped Below 110

    Abstract:For the first time since May, the yen’s rate has dropped below 110 per USD, as positive outlook for the trade agreements has weakened market demand for safe-haven assets. Before the first phase of the trade agreement was signed on Wednesday, the U.S. government removed the “currency manipulator” label imposed on China.
    周六

      For the first time since May, the yen‘s rate has dropped below 110 per USD, as positive outlook for the trade agreements has weakened market demand for safe-haven assets. Before the first phase of the trade agreement was signed on Wednesday, the U.S. government removed the “currency manipulator” label imposed on China. The change in the US’ attitude indicates that few uncertainty remains for the first phase of the US-China trade agreement, eliminating a major risk in the global market.

      The yen has fallen 1.3% against the dollar since 2020, erasing all gains last year. And as tensions between the United States and Iran eased, yen has lost part of its safe-haven appeal, experiencing its biggest drop since October last week; improved risk appetite and technical momentum pushed the dollar to above 110 yen. Whether it will continue to rise further will depend on new catalysts such as US economic data and the rise in US Treasury Bond yields.

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    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
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