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Why Did the JPY Make Gains Overnight?


Guest Sam Bouman

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Last night we saw the Japanese Yen make some rather large gains as we saw investors flock to safe haven assets. 

The reasons mainly for the overnight strength in the Yen were the announcements from Trump that he would be imposing tariffs on Mexico due to the fact they haven’t been able to stop the illegal migration over the border, this has just added to the increasing worries regarding the global economy and the downturns in various different data coming out.

Moving on to data there was also another reason why there was a rush into the Japanese Yen, which was the contracting PMI data. This is also another big worry as China is such a big economy and any contraction in their own economy has a ripple effect on the rest of the world.

So make sure to look out for any more macroeconomic worries as these will be sure to increase the JPY strength. 

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