The Japanese yen and gold rallied on Monday as investors sought safe-haven assets amid mounting uncertainty over U.S. tariffs and their potential impact on inflation and economic growth.
Yen Strengthens as Traders Brace for Volatility

The yen hit 148.7 per U.S. dollar before settling at 149.135, up 0.43%.

The currency gained 0.82% on Friday after higher-than-expected U.S. core inflation data fueled stagflation fears.

Jane Foley, head of FX strategy at Rabobank, noted, “Uncertainty will persist beyond Trump’s April 2 reciprocal tariff announcement.”

Gold Hits Record Highs
Gold surged to $3,128.06, extending its record-breaking rally for a third consecutive session. Rising geopolitical risks and economic uncertainty have boosted demand for the metal.
Euro Slips but Remains on Track for a Strong Quarter

The euro fell 0.13% to $1.08205, though it remains up 4.5% this quarter—its best performance since Q3 2022.

The euro’s strength is driven by Germany’s fiscal overhaul and expectations of policy shifts in response to U.S. trade measures.

ECB Weighs In on Tariff Impact
European Central Bank (ECB) President Christine Lagarde warned that U.S. tariffs could slow European economic growth, forcing the EU to strengthen its economic resilience.
Investor Outlook
With escalating trade tensions, investors should track market shifts using tools like the Forex API and Commodities API for real-time insights into currency and gold movements.