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Yen Rises on Safe-Haven Demand, Mexican Peso Slump on Tariff News
Friday, 31 May 2019 13:23 WIB | CURRENCIES |DOLLAR Yen

The Japanese yen rose on Friday in Asia amid safe-haven demand, while the Mexican Peso slumped amid news of unexpected tariffs imposed on Mexican goods.

The USD/MXN pair was up 2.2% to 19.5583 by 12:50 AM ET (04:20 GMT).

The Mexican peso is now near three-month lows against the dollar after U.S. President Donald Trump unexpected said the U.S. will slap a 5% tariff on all goods coming from Mexico. The tariff will kick in from June 10 and will last until illegal immigration is stopped, Trump said.

The U.S. dollar, which is also considered as a safe-haven currency, remained little changed at 98.045.

Source : Investing.com

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