USD Drops Against Yen as Market Anticipates Economic Data Release from US

The USD decreased in value against the JPY for the second consecutive day after the minutes from the FOMC’s latest policy meeting sparked concerns on how the incoming Trump administration’s government policies would be affecting the frequency of the Fed’s planned rate hikes this year. The USD dropped significantly during the Tokyo trading session, clocking in a decrease of over 1.7% against the Japanese yen. The USD has since then pared its losses since the market is now monitoring the release of the jobs data from the US in the coming days.