The yen strengthens slightly against other G-10 and Asian currencies in the morning session amid risk-off sentiment spurred by looming U.S. tariffs.
"We judge that President Trump's tariff regime will be more disruptive to the global economy than markets are currently pricing," say three members of CBA's Global Economic & Markets Research.
Risks are tilted to a sharp decline in global equities and a weaker USD/JPY, the members say in a research report. USD/JPY could soon sustainably break below support at 148.13, they add. USD/JPY edges 0.2% lower to 149.56; risk-sensitive AUD/JPY is down 0.3% at 93.94.
Source: Dow Jones Newswire
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