- EUR/JPY falls to near 182.40 as investors shift to safe-haven fleet after the US SC ruled against Trump’s tariff policy.
- US President Trump announces 15% global tariffs after the SC ruled trade deals ‘invalid’ by invoking IEEPA.
- The EU aims to freeze final approval of the trade deal with the US until it receives details of the new US tariff policy terms.
The EUR/JPY pair trades 0.15% down to near 182.40 during the Asian trading session on Monday. The cross has come under pressure as the safe-haven appeal of the Japanese Yen (JPY) has improved in a holiday mood in Japan amid uncertainty over the United States (US) trade policy.
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.27% | -0.16% | -0.40% | -0.08% | 0.21% | -0.06% | -0.36% | |
| EUR | 0.27% | 0.11% | -0.16% | 0.20% | 0.48% | 0.21% | -0.10% | |
| GBP | 0.16% | -0.11% | -0.25% | 0.08% | 0.37% | 0.10% | -0.21% | |
| JPY | 0.40% | 0.16% | 0.25% | 0.35% | 0.63% | 0.37% | 0.07% | |
| CAD | 0.08% | -0.20% | -0.08% | -0.35% | 0.29% | 0.02% | -0.28% | |
| AUD | -0.21% | -0.48% | -0.37% | -0.63% | -0.29% | -0.26% | -0.57% | |
| NZD | 0.06% | -0.21% | -0.10% | -0.37% | -0.02% | 0.26% | -0.31% | |
| CHF | 0.36% | 0.10% | 0.21% | -0.07% | 0.28% | 0.57% | 0.31% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Japan’s markets are closed on Monday due to The Emperor’s Birthday.
The US trade policy has become unpredictable, following the Supreme Court’s verdict against tariffs invoked by President Donald Trump under the International Emergency Economic Powers Act (IEEPA).
Meanwhile, US President Trump condemned SC’s ruling against his tariff policy and announced a 15% increase in import duty globally to offset the same.
However, the broader outlook of the JPY remains uncertain as soft National Consumer Price Index (CPI) data for January has raised concerns over speculation for an interest rate hike by the Bank of Japan (BoJ) in the near term. The data showed on Friday that the National headline CPI grew at a moderate pace of 1.5% Year-on-Year (YoY) against 2.1% in December. National CPI ex. Fresh Food came in lower at 2%, as expected, from the previous reading of 2.4%.
On the Euro (EUR) front, European Parliament’s trade chief stated that the European Union (EU) will propose freezing the ratification process of the trade deal with the US until they receive details from Trump’s administration on its trade policy, according to Bloomberg.
On the domestic front, upbeat preliminary HCOB Purchasing Managers’ index (PMI) data for February has improved its broader outlook. The HCOB reported on Friday that the Composite PMI expanded at a faster pace to 51.9 against estimates of 51.5 and the former release of 51.3.
