USD/JPY flows: Mission Accomplished, Surprisingly

While it looks like things won't get settled between the U.S. and Japan before August 1, Trump announced abruptly that a trade deal has been reached with Japan. That was confirmed by Japan's trade deal negotiator Akazawa, citing "Mission accomplished". Details are still lacking but so far it is expected Japan will pay 15% tariff and investing 550 billion USD in the U.S..

Japanese equities and JPY are loving that and see Nikkei up 2%, USD/JPY down 0.2% to 146.29.