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In the Asian trading session, the USD/JPY pair dipped by 0.1% to 154.47, as the safe-haven appeal of the Japanese yen was bolstered by escalating tensions in the Middle East. The yen’s status as a safe-haven currency was underscored by its resilience, keeping it near 34-year lows.
Concerns lingered regarding potential intervention by the Japanese government to mitigate the yen’s strength.
Meanwhile, the USD/CNY pair saw a marginal increase of 0.1% to 7.2417, as the yuan remained close to five-month highs amidst uncertainties surrounding the Chinese economy. These uncertainties have contributed to a cautious trading environment, with investors closely monitoring developments in the region.
