American dollar ditches to four-month low against Yen amid chaos in DC

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American dollar ditches to four-month low against Yen amid chaos in DC

On Tuesday, the 25th of December, the American Dollar had been jolted downward to its four-months low against Japanese yen. While preparing this report, the American Dollar had been traded on $110.46 against Japanese, as the US administration had been battling a chaos over a partial government shutdown on Mexican border issue and there had been an open confrontation between the White House and US Central bank, apart from a trade war lurking between US and Japan.

Earlier on Tuesday, December 25th, during the Asia Pacific session, at one stage, the American dollar fell to 110.12, posting a 0.27 percent drop, which was its lowest level since late August. According to several market analysts, the seven-day losing streak of American dollar against Japanese yen might persist and could become pervasive, if Washington failed to fathom a conclusive solution regarding FED and its chair Jerome Powel, apart from a significant improvement in US-Japan trade war.

While US stocks had drowned over 2 percent yesterday and the oil price had been plunged by 6% in a holiday-shortened Monday (December 24th) trade, the Japanese Yen suddenly hit its 16-months high against the British pound, 139.90 yen, yet, just a month ago, it was trying to retest the 150s.

Amid a shocking extent of volatility index worldwide, a veteran Japanese currency trader had been quoted saying, “People are saying this is a black Christmas. ”