The Yen is in demand. Overview for 25.06.2019

USDJPY reached the lowest levels since January 3rd; investors require “safe haven” assets.

On Tuesday morning, the Japanese Yen continues rising against the USD. The current quote for the instrument is 106.89.

The Yen is demand due to escalations of the US-Iran conflict and anticipation of the meeting of the US and Chinese leaders during the upcoming G20 summit. This might be too much news for one week, that’s why it influences market sentiments so strongly. 

In the morning, Japan reported on the SPPI for May. The indicator added only 0.8 y/y after expanding by 1.0% y/y in April. The report is minor, but it shows that the inflation is slowing down. Again. 

Also, the Bank of Japan published the Monetary Policy Meeting Minutes, but investors already know everything about the decisions and global sentiments among monetary policymakers, that’s why they barely responded to the report.