Japanese Yen Gains on Concerns over US-China Tensions

The Japanese yen emerged stronger on Monday amid concerns over US-China relations following the arrest of a Huawei executive last week, and pound gained ahead of a vote in parliament on Theresa May’s Brexit deal.

The safe-haven yen was 0.4 percent stronger at ¥112.32 to the dollar.

Gains for the Japanse currency came after the concerns over US-China relations have been fueled by the arrest last week by of Huawei CFO Meng Wanzhou while she was in transit in Vancouver following a US extradition request.