XE Market Analysis: Europe – Mar 23, 2018

The yen remained underpinned as risk aversion continued to course through global markets on the realizing threat of Trumpian trade wars. USD-JPY logged a 16-month low at 104.64. Japanese inflation data today may have given the yen an added bid, with the BoJ-watched core CPI reading rising to a rate of 1.0% y/y in February from 0.9% in the month prior, although the rate is still well off the central bank’s 2% target.