Yen fell; Trump has caused concern about possibility of trade war

Possible consequences of the next President of USA Donald Trump’s policy are estimated ambiguous. 06.Jan.17 12:01 PM By Anna Tuzova Photo Toinnov.com    772

Dollar soared against the Yen on Friday during Asian trading session after the US elected President Donald Trump criticized largest Japanese car company in Twitter, causing concerns about possibility of trade war between USA and its leading Asian trading partner. “ToyotaMotor” stated that it will build a new plant in Mexico to build Corolla cars for USA. The Head of State answered in the Twitter: “NO WAY! Build plant in U.S. or pay big border tax”. USD/JPY traded at 116,19, gaining 0,72%, AUD/USD fell by 0,26% to 0,7316. Trading balance in Australia has showed surplus amounting to A$1,243 billion instead of expected deficit of –A$500 million. People’s Bank of China has exceeded Yuan’s reference exchange rate against US Dollar to 6,8668 from 6,9307. This is the second raise in a row after Wednesday’s fall to the lowest in 8-years term rate. The offshore Yuan jumped to 6,7850 against dollar, as central bank with governmental banks’ assistance has intervened in offshore and continental Yuan situation, strengthening currency that has been falling in this week. USD Index, which shows dollar’s strength against trade-weighted basket representing six main currencies has grown by 0,36% to 101,75. US Dollar declined against leading currencies yesterday, after Federal Reserve’s last meeting Minute has pointed on ambiguity regarding possible consequences of Trump’s economy policy.

---

Back to the list

Related Information: