The U.S. dollar faced a decline against the Japanese yen on Monday, driven by fears of an economic slowdown and ongoing uncertainty concerning the Trump administration’s trade policies. Investors’ mounting concerns were compounded by a notable selloff on Wall Street.
While the greenback faltered against the yen, it showed resilience by strengthening against currencies like the euro, Swiss franc, and sterling, as traders took profits from recent currency gains. Meanwhile, Wall Street noted a steep decline, with a significant drop in the Nasdaq as tech sectors suffered.
Interest rate movements were a focus, with U.S. rates falling, impacting the dollar’s performance. The euro showed volatility, influenced by potential changes in European military spending. As investors adjust positions, attention turns to upcoming U.S. inflation data, which may signal future rate cuts by the Fed.
(With inputs from agencies.)
