USD/JPY is off five-month minimum

USD/JPY is off five-month minimum

On Tuesday, the evergreen buck drifted away from five-month minimum vs. the Japanese yen, with comments from American Treasury Secretary Steven Mnuchin as well as higher debt yields providing the bruised greenback with some breathing space.

The major American currency was capped by nervousness as for Tuesday's economic dialogue between the United States as well as Japan. Lingering concerns regarding North Korea as well as the coming French presidential elections also kept a lid on the greenback against the safe-haven yen.

Mnuchin informed the Financial Times that he absolutely agreed with American President Donald Trump's view that the greenback’s strength was hurting exports in the short term, though he considered the currency's strength over the long term to be quite positive.

The US dollar contributed to overnight revenues and gained 0.1%, hitting 109.040 yen, having edged up briefly to 109.225. 

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