The US dollar has kept sliding against Japanese yen in the middle of the week. The downward dynamics is related to escalating US-China conflict which may entail a trade war.
The trade war has become even more real today following the new announcement of import tariffs by Beijing. Specifically, China's officials stated that US products will be subject to 25% mirror duties for $50 billion.
However, that was China's response to Trump's statement on Tuesday that Washington considered 25% import tariff on Chinese good worth $50 billion annually. According to the news reports, the White House strives to make Beijing revise its policy for intellectual property protection.
Today the greenback dropped to 106.34 against the yen.
In this situation, the American currency failed to get support even from the ADP report about the better employment situation in the country (new jobs amounted to 241,000, which is well above forecasts).
The euro rose against the US dollar to some 1.2300. According to the March report, the euro-area recorded a 1.4% m-o-m increase in the inflation which confirmed expectations about the Central Bank's stimulus shutdown.
The greenback also lost positions against the sterling. The latter improved to some 1.4078.