Dollar-yen fluctuates amid Trump's tariffs on Canada.
【3/11Market Overview
Tokyo time, the dollar/yen moved as146.54yen and the previous day's low146.63yen were breached. After selling subsided, as the Nikkei average fell less,147.40yen rebounded. In European hours, the dollar/yen hovered around147yen with no clear direction.NYTime,1monthJOLTS774.0 ten thousand jobs, above the forecast763.0 ten thousand jobs. The dollar/yen rose to148.12yen briefly, but when reports said President Trump instructed the commerce secretary to raise import duties on Canadian steel and aluminum from25%50%, U.S. stocks fell and risk-off sentiment led to yen buying and dollar selling, pulling the dollar/yen down to147.02yen. Later, reports that Canadian Ontario's Ford Prime Minister agreed to temporarily suspend the 25% surcharge on US power prices circulated, and President Trump spoke of potentially dropping the25% increase, confirming a 50% tariff on Canada could be lifted. US stocks steadied, and the dollar/yen recovered to147.91yen.
【3/12Market View