Forex
Yen Stabilizes After Trump Expresses Concerns About Weak Currency
The Japanese Yen has stabilized following concerns raised by US President Trump about its weakness. The USD/JPY pair closed just under 157.50 on Monday, holding most of Friday's drop from 159.00.
Finance Minister Katayama stated that President Trump had expressed concern about the weak currency at their New York summit with Prime Minister Takaichi. She also confirmed that further joint intervention with the US had not been ruled out.
The Tokyo core CPI forecast for September is 2.4% YoY, up from 1.8%, and the Tankan large manufacturers' index is expected to rise to 25 from 22.