After Trump’s fees … this is the most affected currency

The yen is on the way to registering the longest losses in more than a month, amid increasing fears of the possibility that Japan is listed in Donald Trump’s customs tariff plan.

The Japanese currency decreased by 0.8% to 153.73 against the dollar today, Wednesday, which is the weakest level in a week to succeed all its main counterparts. This represents an opposite trend for the path last week when the currency made its fourth consecutive gains, amid the betting of the traders that the Bank of Japan will raise interest rates again, and with the yen showing its attractiveness as a safe haven.

The Elaine decreased after Trump announced that he was planning to impose customs tariffs by 25% on all US aluminum and steel imports. Japanese Trade Minister Yuji Moto told reporters that Japan asked Trump today to exempt his country’s companies from the new customs tariffs.

“It is likely that twice the performance of the yen is the result of the uncertainty about a mutual imposition of customs tariffs,” said Christopher Wong, strategic at Overses Chenies Panking Corp in Singapore. He added: “There is a real danger that Japan is hit, and this would make the yen prospects for the short term.” (Bloomberg)