Yen Hits More Than Four-Month High on Trade-War, Growth Worries

The Japanese Yen touched more than four month high against the U.S. dollar on Monday as the U.S president Donald Trump’s hard standpoint on trade widened to countries beyond China, forcing safe-haven assets, including government bonds.

In a recent development, U.S. and Mexican officials were preparing for trade talks after Trump pledged to impose harsh tariffs on all Mexican goods in an intensifying dispute over migration.

The yen tends to act as a safe haven in times of geopolitical and economic unrest as Japan is the world’s biggest creditor nation.