The US dollar fell more than 1% against the Japanese yen on Monday, hitting a session low of 142.05. The drop comes amid heightened market volatility driven by concerns over trade tensions and slowing global growth.

The move follows a closed-door meeting between Japanese Finance Minister Katsunobu Kato and US Treasury Secretary Scott Bessent during the IMF and World Bank spring meetings in Washington.

The dollar traded 1.11% lower against the yen, going for ¥142.0745 at 3:24 pm CET.