The Japanese yen appreciated toward 147 per dollar on Monday, recouping some losses from last week as investors responded to renewed global trade concerns.
The move followed President Donald Trump's announcement of a 30% tariff on imports from the European Union and Mexico, set to take effect on August 1. In response, EU and Mexican leaders signaled their intent to continue negotiations with the Trump administration this month in hopes of securing a lower tariff rate.
The EU is also reportedly expanding talks with other nations impacted by the tariffs, including Canada and Japan, potentially exploring coordinated actions.
On the domestic front, Japan's core machinery orders fell 0.6% month-over-month to ¥913.5 billion in May. While still in negative territory, the figure marked a notable improvement from April's sharp 9.1% drop and came in better than the expected 1.5% decline.
Source: Trading Economics
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