Trump's turnabouts on tariffs and currency leave yen adrift

Policy uncertainty spurs speculators to pare long bets

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U.S. President Donald Trump's moves to impose and then postpone tariffs have put currency markets on edge. © Reuters

FUTOSHI OGURI

TOKYO -- The yen has lacked a clear direction against the dollar since April, as inconsistency from U.S. President Donald Trump's administration on tariffs and exchange rates leaves traders disinclined to commit to a position.

Last month saw a triple sell-off of the dollar as well as U.S. stocks and bonds, sending the White House scrambling to ease the trade pressure.

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