The US dollar rose to a six-month high against the yen today as concerns over the impact of trade tensions over the momentum of global economic growth faded. With the start of the second-quarter earnings season, investors tended to ignore the US-China trade conflict.
The USDJPY rose to 111.27, its highest level since May 21, and a breach of this level will open the door to further upside targeting 113 levels. The USD may get further support as inflation data releases on Thursday.
Elsewhere, the pound has fluctuated since yesterday following the resignation of two ministers from the Theresa May government after they objected to Brexit plans from the European Union. Sterling fell below 1.32 levels yesterday before returning to those levels during today's trading.
