The Japanese yen strengthened past 144 per dollar on Wednesday, marking its seventh consecutive session of gains, as investors digested Japan's trade data while awaiting developments from the G7 meeting.
Tokyo's trade deficit narrowed sharply in April 2025, though it defied market expectations for a surplus. Exports rose for the seventh consecutive month, but at the slowest pace in the current sequence amid concerns over looming US tariffs.
Meanwhile, imports declined for the second month this year, though the drop was smaller than forecasted.
Japan's chief trade negotiator, Ryosei Akazawa, reaffirmed the call to remove US tariffs ahead of third-round trade talks set to begin this week. Attention is also focused on the G7 finance leaders' summit, which kicked off Tuesday in Canada and runs through Thursday.
On the sidelines of the summit, Japanese Finance Minister Kato is scheduled to meet with US Treasury Secretary Bessent for talks likely to include recent currency market movements.
Source: Trading Eonomi
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