USD/JPY risks falling below 109.00 today on deepening US-China trade issues, having lost more than 300 pips in the last 20 days on haven demand for anti-risk Japanese Yen.
As of writing, the currency pair is trading in the red at 109.22. The spot hit a low of 109.02 on Monday – the lowest level since Feb. 1 – as the Dow Jones Industrial Average fell more than 600 points.
Risk was already under pressure with investors losing faith that a US-China trade could happen soon. These fears were bolstered after China said it would impose tariffs ranging from 5% to 25% on US goods worth $60 billion from June 1.
Source : FXstreet