Push Admin

Dollar hits 16-month lows vs yen as trade, political woes take their toll

Article (news)

Shinichi Saoshiro, Reuters

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/03/26/032618_dollar.jpg"/><figcaption>A US dollar note is seen in this June 22, 2017 illustration photo. Thomas White, Reuters</figcaption></figure></div>TOKYO - The dollar slipped to a 16-month low against the Japanese yen on Monday, pressured by lingering fears of a global trade war and caution towards political developments in Tokyo.The US currency traded at 104.835 yen after falling to 104.560, its weakest since November 2016.The dollar had already slumped 1.2 percent versus its Japanese peer last week as escalating trade tensions between the United States and China stoked concerns about global growth.Global markets were shaken after US President Donald Trump moved to impose tariffs on Chinese goods, edging the world&#x27;s 2 largest economies closer to a trade war.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/03/26/18/us-unafraid-of-trade-war-will-proceed-with-china-tariffs-mnuchin">US unafraid of trade war, will proceed with China tariffs: Mnuchin</a></li></ul>Views that Japan&#x27;s political scandal could deepen was also seen lifting the yen, with a key figure in a cronyism scandal gripping Prime Minister Shinzo Abe due to testify in parliament on Tuesday..<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/overseas/03/25/18/japans-abe-apologizes-amid-cronyism-scandal-vows-to-revise-constitution">Japan&#x27;s Abe apologizes amid cronyism scandal, vows to revise constitution</a></li></ul>Economic measures dubbed &quot;Abenomics&quot; initiated by Abe has been a factor that has pulled the yen down over the past few years to the benefit of exporters. Any event that leads to a decline in the premier&#x27;s support ratings is seen weakening his ability to keep Abenomics in place.&quot;With worries about the United States and China locking horns on trade issues and Japan&#x27;s parliamentary testimony coming up on Tuesday, few participants are willing to buy the dollar,&quot; said Yukio Ishizuki, senior currency strategist at Daiwa Securities.&quot;It really is typical &#x27;risk off&#x27; trades dominating right now, with the yen and Swiss franc the big beneficiaries. But more speculators are jumping in, and any reversals could be sudden and violent.&quot;The Swiss franc was little changed at 0.9467 franc per dollar after gaining 0.55 percent against the greenback last week.The euro edged higher at $1.2364 after rising 0.5 percent last week.The dollar index against a basket of 6 major currencies was steady at 89.453 and in close reach of a one-month low of 89.356 set last week.The Australian dollar added 0.3 percent to $0.7714 and the New Zealand dollar gained 0.35 percent to $0.7250.

The dollar slipped to a 16-month low against the Japanese yen on Monday, pressured by lingering fears of a global trade war and caution towards political developments in Tokyo.

The dollar slipped to a 16-month low against the Japanese yen on Monday, pressured by lingering fears of a global trade war and caution towards political developments in Tokyo.

Dollar hits 16-month lows vs yen as trade, political woes take their toll

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Traffic

Manila

Horoscope

Business

Dollar hits 16-month lows vs yen as trade, political woes take their toll

Shinichi Saoshiro,

Reuters

Published Mar 26, 2018 09:01 AM PHT

Read More:

dollar

yen

forex

foreign exchage

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.