During August 23-25, the Japanese Yen appreciated 218 pips or 2.05% against the US Dollar, and the USD/JPY currency pair tested the 2018/2019 low at 104.67.
The reason for the advance was an announcement made by the US President Donald Trump on Friday, August 23. Trump revealed that an additional 5% duty on $550B worth of the Chinese goods would be implied starting from September 1.
The announcement came hours after the Chinese representatives declared 5% and 10% tariffs implementation on $75B worth of the US products starting from September 1 and December 15 respectively.