# USD/JPY clings to modest gains above 107.00 mark, lacks follow-through — Octa

> USD/JPY held above 107.00 on Monday after Japan reported a first-quarter GDP contraction of 0.9% and Fed Chair Powell gave optimistic remarks on the economy. Trade tensions after a US move to block chip supplies to Huawei kept gains limited.

- Date: 2020-05-18 · published 2020-05-18T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/53373-usd-jpy-clings-to-modest-gains-above-107-00-mark-lacks-follow-through-octa
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

This is FX market commentary; the Huawei chip restriction signals rising US-China friction that could affect purchase sentiment for US farm goods, but the article does not connect it to feed prices.

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/821674/

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