TOKYO: The dollar eased against the yen on Friday after a report suggested that Japan would be the next country with which U.S. President Donald Trump will take up trade issues.
The U.S. currency held in relatively tight ranges against other major peers such as the euro and pound, with the market bracing for the highly anticipated U.S. jobs report due later in the session. According to CNBC television, President Trump hinted to a Wall Street Journal columnist that he might next take up trade issues with Japan.
The U.S. president has already challenged China, Mexico, Canada and the European Union on trade issues.
He has repeatedly accused other countries of devaluing their currencies and putting the United States at a disadvantage. The dollar extended overnight losses and last traded at 110.57 yen for a loss of 0.17 percent.
"In addition to dollar/yen, other currencies have also declined against the yen.
Although the real motive behind Trump´s comments is still unclear at this stage, the market has taken note of the possibility of Japan being affected by a broader trade conflict," said Shusuke Yamada, currency and equity strategist at Bank of America Merrill Lynch in Tokyo.
The image shows a poster of Syngenta Pakistan's 'CropWise Grower' mobile application. — Syngenta...
The undated image shows the name of the Bank of Punjab written on one its branches. — APP FileKARACHI: The Bank of...
ABHI, a financial technology company, partners with Soorty Enterprises. — Facebook/ProPakistaniKARACHI: ABHI, a...
This representational image shows Gold bars. — AFP/FileKARACHI: Gold prices in the local market dropped by Rs1,600...
A currency exchange dealer counting $100 bills. — AFP/FileAs any old-school currencies trader will tell you: buy...
A Pakistan International Airline aircraft takes off in this undated picture. — Radio Pakistan/FileLAHORE: We have...