Yen Strengthens to 139 per Dollar Amid Trump Criticism, Then Weakens to 143 After Powell Firing Denial

The Japanese yen experienced notable fluctuations against the U.S. dollar over recent days amid comments from U.S. President Donald Trump regarding Federal Reserve Chairman Jerome Powell. Initially, the yen strengthened to the 139 yen per dollar level, marking its strongest point against the dollar in seven months, driven by increased uncertainty over U.S. monetary policy following Trump's criticisms of Powell. However, after Trump clarified that he had no intention of firing Powell, the yen weakened, briefly reaching the 143 yen per dollar level. These developments underscore the sensitivity of currency markets to political statements affecting expectations of Federal Reserve leadership and monetary policy direction.