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USD/JPY dropped about 40 pips to near 109.22 after Trump imposed new tariffs on Mexico, which renewed risk-off sentiment across Asian markets. The yen was bid despite weak Japanese inflation data, and the pair was seen at risk of breaking support near 109.
Escalating trade-war fears drive safe-haven flows and pressure risk assets, which can weigh on commodity prices. The yen move reflects sentiment rather than a direct change in feed supply or demand.
forexcrunch.comFX StreetMay 31, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
