XE Market Analysis: North America – May 31, 2019

The safe-haven Yen rallied sharply while the Mexican Peso plunged precipitously after President Trump vowed to hit Mexico with a 5% tariff and threatened higher tariffs if it failed to do what he considers its part in dealing with surge in immigrants attempting to cross the border into the U.S. USD-JPY dove about 0.8% in making a four-month low at 108.72. AUD-JPY tumbled to a five-month low, as did EUR-JPY. USD-MXN, meanwhile, surged by about 3.5%. The dynamic in currency markets was a reflection of broader risk-off positioning in global markets, which has underpinned U.S.

Source: XE news feed
XE Market Analysis: North America – May 31, 2019