USD/JPY flows: Trump Tariffing for Greenland

Trump announced that Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland would face a 10% tariff from February 1, rising to 25% from June 1, unless the U.S. is permitted to buy Greenland over the weekend. It came as a huge surprise as a series of allies are being tariffed and it seems Trump is quite determined to acquire Greenland. The geopolitical tension has risen between EU and the U.S. for EU is preparing retailitave tariffs if diplomatic solutions fail.

USD/JPY opened 25 pips lower and has yet to close the gap, currently trading 0.11% lower at 157.88.