The yen, jolted in a 750-plus point range against the dollar in the week since Donald Trump¡¯s presidential win, could fall back toward a February low of ?115 on prospects of rapid U.S. interest rate increases.
The dollar marked a five-month high above ?108.50 on Monday, having sunk to almost ?101 just a week ago as financial markets were gripped by turmoil in the wake of Trump¡¯s stunning upset. It was trading at ?107.95 on Tuesday afternoon.
The yen¡¯s tumble has defied all expectations, given a Trump presidency was expected to trigger a rush to safe-havens such as the Japanese currency and gold as the freewheeling former reality TV star¡¯s stance on trade, foreign policy and immigration had spooked policymakers and investors around the world.
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