Elias Haddad, a senior currency strategist at Commonwealth Bank of Australia, from in an interview with Bloomberg Television:

Risk of more aggressive easing from the Bank of Japan is abating

  • Inflation dynamic in Japan has improved

Yen is driven by fundamentals rather than politics from the negative trade spat mostly between the U.S. and China

  • If trade tensions escalate, "the yen will be the ultimate beneficiary because of it's very high current account surplus, but also of its high net foreign asset position"
  • Trade tensions are not worsening, which is positive for the global growth outlook and puts pressure on the USD ... will be "trending lower the rest of this year"