TOKYO -- The Japanese yen declined sharply to the lower 148 range against the dollar on Monday, after the U.S. and Chinese governments announced that they would significantly reduce the high tariffs that they had imposed on each other for 90 days.
Currencies
Yen falls sharply to 1-month low after US-China trade announcement
Investors reverse 'safe haven' flow to Japanese currency, buy back dollars
The announcement of a tariff agreement between the U.S. and China on Monday triggered a reversal of recent yen-buying/dollar-selling activities that had been ongoing since the start of the Trump administration's trade war. (Photo by Yuichiro Takagi)
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