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Yen Jumps on Trump's Tariff Threat on Mexico


Friday, 31 May 2019 23:19 WIB

Yenmata uang yenYen Jepang


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Investors rushed into the perceived safety of Japanese yen on Friday, sending it to a four-month high against the dollar, after U.S. President Donald Trump’s threat to impose tariffs on Mexico roiled financial markets and stoked recession fears.

Taking aim at what he said was a surge of illegal immigrants across the southern border, Trump vowed on Thursday to impose a tariff on all goods coming from Mexico, starting at 5% and ratcheting higher until the flow of people ceases.

The yen increased 0.89% at 108.655 per dollar and 0.76% per euro, respectively.

For May, the Japanese currency was on track to gain 2.50% against the dollar and 3.17% versus the euro.

The Swiss Franc also enticed safe-haven buying, rising 0.26% at $1.0051.

Source : Reuters


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