Wed Apr 09 17:20:00 UTC 2025: ## Yen Soars to Six-Month High Amidst Escalating US-China Trade War
**New York, NY** – The Japanese yen surged to its highest level against the dollar in six months on Monday morning, reaching ¥143 per dollar, as fears of an escalating trade war between the US and China intensified. At 8:45 AM, the yen was trading at ¥144.10-¥144.20 per dollar, a significant ¥2.11 appreciation compared to the previous day’s close of ¥146.21-¥146.31.
The surge in the yen, a safe-haven asset, followed the full implementation of the second round of tariffs imposed by the Trump administration on imports from approximately 60 countries and regions. This included a 10% base tariff already in effect, plus additional levies, with China facing a cumulative tariff of 104%. China retaliated by raising tariffs on all US imports by 84%.
The tit-for-tat tariff increases fueled concerns about a global economic slowdown, prompting investors to flock to the yen as a safe haven. The euro also weakened against both the dollar and the yen.
The news comes amidst mixed signals from the US stock market, with the Dow experiencing both gains and losses earlier in the day.
First Piper 