Yen Surges as Trump Comments on Currency and Tariffs

TOKYO, Jul 29 (News On Japan) - The yen saw a sharp appreciation, with the dollar-yen exchange rate briefly dropping to 151.90 yen on July 25th, partly triggered by former U.S. President Donald Trump's comments in a Bloomberg interview about the strong dollar and weak yen and yuan.

Expectations of a Bank of Japan rate hike and narrowing Japan-U.S. interest rate gap also contributed to the yen's rise.

Trump's "America First" economic policies, including tariff hikes and deregulation, along with his hardline stance on China, are anticipated to impact the global economy if he is re-elected. Meanwhile, Senator Vance, nominated as the Republican vice-presidential candidate, emphasized the importance of preventing a Chinese invasion of Taiwan due to its significant semiconductor production. Trump's remarks on Taiwan's semiconductor business and defense payments have caused concern, leading to a drop in TSMC's stock on the New York Stock Exchange.

Source: ANN

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