The yen edged lower on the first trading day of the new quarter, with analysts projecting it will weaken against all its Group-of-10 peers this quarter as easing geopolitical tensions reduce demand for haven assets.
USD/JPY is forecast to rise to 108 by the end of June, from the current level of 106.34, the median estimate in a Bloomberg survey shows. The pair slid 5.7% in the first quarter as trade frictions and rising volatility in stocks boosted appetite for safety
A special Chinese envoy said on Friday ties between China and South Korea are expected to improve; leaders of North and South Korea are planning to hold a summit on April 27.
The market is still quite thin and during the Asian session the FX market movements were in a narrow range. China's countermeasures against US imports came into force today, but this did not affect the stock market during the Asian hours and it is probably already traded.
Source: Bloomberg Pro Terminal
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