USD/JPY seesaws around 112.00 amid the initial minutes of the Tokyo open on Friday. The yen pair recently surged to the highest since April 2019 following the broad US dollar rally and weakness of the Japanese fundamentals.
The Japanese yen is now under pressure following the downbeat fundamentals at home. Not only the Asian economy’s sustained failures to reach 2.0% target inflation but the disappointing figures of the fourth quarter (Q4) GDP also raised doubts on the JPY’s safe-haven status. While identifying this, the International Monetary Fund (IMF) recently pushed the BOJ officials towards searching for clues. Though, the Asian central bankers and diplomats kept citing coronavirus as the immediate fear.
Source : FXstreet