The Mexican peso tumbled against the greenback, losing as much as 3.4 percent at one point, for its steepest single-day loss since October last year. Trump’s surprise duties on Mexican imports “spurred sharp losses in the Mexican peso and a general risk-off move that strengthened the yen,” Bannockburn Global Forex LLC chief market strategist Marc Chandler said. For May, the Japanese currency gained 2.72 percent against the greenback and 3.15 percent versus the euro. The Swiss franc also enticed safe-haven buying, rising 0.69 percent to US$1.0008, near its strongest versus the US dollar since April 10 and up 0.2 percent for the week. Trump’s latest salvo fueled a rush on Friday to safe-haven assets such as government bonds and the yen.

Source: Taipei Times June 01, 2019 15:56 UTC