The Japanese Yen (JPY) remained weaker against its US counterpart for the fourth straight day and retested its monthly low during the Asian session on Wednesday (6/18).
The Bank of Japan (BOJ) signaled a cautious approach to winding down its decade-long monetary stimulus amid uncertain economic growth. This forced investors to push back their expectations about the likely timing of the next BOJ rate hike to Q1 2026, which in turn, was seen weakening the JPY.
Meanwhile, US President Donald Trump and Japanese Prime Minister Shigeru Ishiba failed to reach a tariff breakthrough at the G7 summit, fueling concerns about the economic impact of US tariffs.
This further contributed to the JPY's relative underperformance. The US Dollar (USD), on the other hand, struggled to capitalize on the previous day's strong gains ahead of the key FOMC decision and kept a lid on any further appreciating moves for the USD/JPY pair.(alg)
Source: FXstreet
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