Japanese yen falls as dollar firms

Japanese Yen fell against US Dollar on Tuesday, as the greenback strengthened against most major currencies, while the markets focused on the prospects of a cut in the US interest rates.

The International Monetary Fund (IMF) said in a recent forecast that the US dollar is overvalued by about 6% to 12%.

These estimates boost concerns about the outbreak of a currency war between major economies, especially since US President Donald Trump has said so on several occasions.

Japanese data today showed that industrial activity rose by 0.3% last month, in line with analysts' forecasts.

In the light of similar statements by Federal Reserve members, speculations is nearing certainty about the central bank's interest rate cut at the July meeting.

In terms of trade, by 19:15 GMT, USD/JPY rose by 0.4% to 107.7, the highest at 107.9 and the lowest at 107.2.