The yen brushed a more than four-month high against the dollar on Monday as U.S. President Donald Trump's hard stance on trade broadened to countries beyond China, forcing investors to safe-haven assets, including government bonds.
With trade issues remaining front-and-center, investor risk appetite has been weighed by fears of a global growth slowdown that has helped stoke government debt demand and triggered an equity selloff.
In a recent development, U.S. and Mexican officials were preparing for trade talks after Trump vowed to impose punitive tariffs on all Mexican goods in an intensifying dispute over migration.
The yen was last steady at 108.23 yen per dollar, paring gains after briefly hitting 108.17, its highest since Jan. 15. On Friday, it had booked its sharpest daily rise in more than two years, climbing a little over 1.2% during the session.
Source : Reuters