In the Tokyo market, U.S. President Trump said he would put new tariffs on many countries in the next few weeks. This caused worry about trade problems, so people sold the U.S. dollar. Because of this, the USD/JPY fell from the middle of 144 yen by almost 1 yen.
Also, rising tension between Iran and Israel made people sell more dollars.
Later in New York, the U.S. Producer Price Index (PPI) for May was lower than expected, just like the Consumer Price Index (CPI) the day before. This made people less worried about inflation. U.S. interest rates went down, and the USD/JPY fell to 143.19 yen. After that, the price went back up to 143.90 yen, but it could not reach 144 yen and fell again.
Because of stronger trade worries, less inflation fear, and more tension in the Middle East, people are buying the safe Japanese yen and selling the dollar. The USD/JPY may keep falling.
Expected range for USD/JPY: 144.00 – 142.00 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.