news-headline">Yen Surges in Asian FX Market Following President Biden’s Remark on China-Taiwan Relations
In the early hours of the 11th, the Asian foreign exchange market witnessed a significant rise in the value of the Japanese Yen against other G10 currencies. This surge was primarily driven by the market’s reaction to recent comments made by US President Joe Biden regarding China’s stance on Taiwan.
The dollar/yen pair experienced a noticeable decline of 0.6%, settling at 146.90 yen per dollar. Interestingly, this movement reflects a 0.4% increase over the weekend, expanding its weekly gain to a commendable 1.1%.
Related article:
- Biden Expresses Doubt Over China’s Military Invasion of Taiwan, Prioritizes Economic Challenges
news-reference">Original title: USD/JPY Quoted 0.6% Lower at 146.90 in Early Sydney Trade (quote)
In the Asian foreign exchange market early on the 11th, the Yen rose against other G10 currencies. Traders reacted to US President Biden’s comments regarding China’s stance towards Taiwan.
The dollar/yen pair fell 0.6% to 146.90 yen per dollar. The stock ended last weekend up 0.4%, extending its weekly gain to 1.1%.
Related article:
Biden doubts whether China could invade Taiwan – ‘hands full’ with the economy (1)
news-rsf-original-reference paywall">Original title: USD/JPY Quoted 0.6% Lower at 146.90 in Early Sydney Trade (quote)
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