The Japanese Yen (JPY) is up 0.4% against the US Dollar (USD), holding mid-pack among G10 peers as markets eye Japan-US trade talks in Washington. With President Trump expected to attend, the meetings could mark a turning point for recent JPY strength, which has been fueled by geopolitical uncertainty. Any easing in trade tensions may weigh on the safe-haven yen if global equities rebound, Scotiabank's Chief FX Strategist Shaun Osborne notes.
JPY rises ahead of key Japan-US trade talks
"JPY is up 0.4% vs. the USD and a mid-performer among the G10, entering Wednesday’s NA session with a focus on trade as Japan’s chief trade negotiator visits Washington for talks with his US counterparts. President Trump is also set to be attending the meeting."
"Japan’s recent performance has largely been driven by trade tensions with notable gains on the particularly turbulent sessions of April 3 and 10. An easing in trade tensions which helps lift global stocks could prove a near-term headwind for the yen".
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