The US President Donald Trump is recently crossing the wires, via the White House report, saying that the US has reached an initial trade agreement regarding tariff barriers with Japan.
Key quotes
“US has reached an initial trade agreement regarding tariff barriers with Japan.”
“Intends to enter into an agreement with Japan in the coming weeks.”
“Will be entering into an executive agreement with Japan regarding digital trade.”
FX implications
Although news like this has little impact over the market sentiment, especially at the time when risk-off favors the USD/JPY pair, a global trade-positive announcement could be considered to help the Japanese Yen (JPY) and commodities.
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