# USD/JPY: Yen Outperforms Major Peers as Trump Tariffs Fuel Haven Bid - Bloomberg

> The yen gained as much as 1.6% to 146.91 per dollar, its biggest advance since late November, as haven demand rose after US tariff announcements. Japanese equities fell sharply, with the Topix down 3.1% on the day.

- Date: 2025-04-02 · published 2025-04-02T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/25372-usd-jpy-yen-outperforms-major-peers-as-trump-tariffs-fuel-haven-bid-bloomberg
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Haven-driven yen strength and equity weakness reflect tariff-driven risk aversion that can weigh on energy and commodity demand. For feed buyers, the impact is mainly through dollar and freight-cost channels.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-04-04 | [Euro (USD/EUR) Emerges as Unlikely Winner From Trump’s Trade Tariff Shock - Bloomberg](https://feedsoft.ai/events/7248-euro-usd-eur-emerges-as-unlikely-winner-from-trump-s-trade-tariff-shock.md) | +0.3% | -1.3% |
| DXY | 2026-01-23 | [Yen (JPY:USD) Jumps Most Since August as Risk of Intervention Ramps Up - Bloomberg](https://feedsoft.ai/events/21296-yen-jpy-usd-jumps-most-since-august-as-risk-of-intervention-ramps-up-bloomberg.md) | -1.5% | -1.0% |
| DXY | 2025-09-30 | [USD/JPY slumps to near 148.00 as Japanese Yen continues to outperform - The Pound Hub](https://feedsoft.ai/events/23133-usd-jpy-slumps-to-near-148-00-as-japanese-yen-continues-to-outperform-the-pound.md) | +0.1% | +0.4% |
| DXY | 2021-07-27 | [USD/JPY Drops on Haven Flows as Traders Brace for FOMC \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/46302-usd-jpy-drops-on-haven-flows-as-traders-brace-for-fomc-forex-trading-free-forex.md) | -0.5% | +0.6% |
| DXY | 2026-01-28 | [Trump's Embrace of Weaker US Dollar Seen as Start of Longer-Term Decline (USD) - Bloomberg](https://feedsoft.ai/events/10163-trump-s-embrace-of-weaker-us-dollar-seen-as-start-of-longer-term-decline-usd.md) | +0.4% | +0.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2025-04-02/yen-outperforms-major-peers-as-trump-tariffs-fuel-haven-bid

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.