XE Market Analysis: Europe – May 31, 2019

Comments are off

The Yen has rallied sharply after President Trump threaten to hit Mexico with high tariffs if it failed to do what he considers its part in dealing with surge in immigrants attempting to cross the border into the U.S. USD-JPY dove over 0.7% in making a four-month low at 108.78. AUD-JPY tumbled to a five-month low, as did EUR-JPY. This dynamic came concomitantly with broader risk-off positioning in global markets, which has underpinned U.S. Treasuries and other top-tier sovereign paper while stock markets have turned sharply lower.