RSS USD/JPY drops back under 155.00 and to a fresh low for the day

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 RSS USD/JPY drops back under 155.00 and to a fresh low for the day

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The USD soared earlier on:


and is now retracing against most major FX.

Trump nominated February 1 for the potential tariffs on Canada and Mexico but the the order he signed requests "a unified report coordinated by the Secretary of Commerce by April 1, 2025." Trump's first term had elements of chaos just like this. Here we go again. Market volatility is not unwelcome though.

The yen has retraced and extended its gains. USD/JPY to a new session low now:

This article was written by Eamonn Sheridan at www.forexlive.com.
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