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Japanese Yen Strengthens on Dollar Weakness
Monday, 19 May 2025 09:42 WIB | USD/JPY |JAPAN

The Japanese yen strengthened past 145 per dollar on Monday, marking its fifth consecutive session of gains, as the US dollar weakened following Moody's credit rating downgrade. On Friday, the agency lowered the US credit rating from Aaa to Aa1, citing a worsening fiscal outlook and "a lack of effective policy action" to address mounting deficits. Domestically, recent data showed that Japan's economy contracted in the first quarter of 2025, with GDP falling worse than market expectations and marking its first economic contraction in a year. Investors are now turning their attention to the upcoming Japanese trade data amid the looming effects of impending US tariff measures. In a recent development, Prime Minister Shigeru Ishiba reiterated that Japan would not accept any initial deal that excludes provisions on automobiles, urging the US to lift its 25% tariff on Japanese cars.

Source: Trading Economi

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