US Dollar Takes a Hit Against Yen Amid Market Volatility

The US dollar experienced a significant drop, falling more than 1% against the Japanese yen on Monday, reaching a session low of 142.05. This decline is attributed to increased market volatility, fueled by growing concerns over trade tensions and the slowdown in global economic growth.

Behind the Scenes: High-Level Discussions

The currency's movement followed a private meeting between Japanese Finance Minister Katsunobu Kato and US Treasury Secretary Scott Bessent. The discussions took place during the IMF and World Bank spring meetings in Washington, highlighting the global financial community's focus on current economic challenges.

At 3:24 pm CET, the dollar was trading 1.11% lower against the yen, at ¥142.0745.