The Japanese Yen (JPY) reverses an intraday dip against its American counterpart and climbs back closer to the top end of the daily range heading into the European session on Monday.
Investors remain worried that US President Donald Trump's tariffs would trigger an all-out global trade war and undermine economic growth around the world.
Moreover, persistent geopolitical tensions lead to an extended sell-off in equity markets and offer some support to the safe-haven JPY.
Meanwhile, signs of broadening inflation in Japan keep the door open for further interest rate hikes by the Bank of Japan (BoJ) in 2025, which turn out to be another factor underpinning the JPY.
The US Dollar (USD), on the other hand, meets with a fresh supply amid expectations that a tariffs-driven US economic slowdown, might force the Federal Reserve (Fed) To resume its rate-cutting cycle soon. This further contributes to the USD/JPY pair's slide back closer to the 145.00 psychological mark.
Source: FXStreet
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