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Yen strengthens as USDJPY falls below 158
USDJPY was last near 157.6, after Japan’s finance minister said President Trump raised concerns about yen weakness in a meeting with Prime Minister Sanae Takaichi.
Forexlive reports the Japanese yen stood out as the U.S. dollar eased, with USDJPY down 0.77% to around 157.61.
The outlet said Japan’s Finance Minister Satsuki Katayama told reporters that President Trump raised concerns about yen weakness during his meeting with Prime Minister Sanae Takaichi, and that Takaichi responded that an undervalued yen was problematic as a general principle.
Forexlive also noted the pair slipped back below its 200-hour moving average and a 50% retracement near 158.45, followed by a swing area around 158.00.
The dollar was described as mixed but mostly lower versus several currencies, while U.S. stock-index futures were higher, aided by lower oil prices and hopes for steadier China-U.S. relations.