The Japanese yen rose to around 148 per dollar on Friday, rebounding from a significant drop in the previous session, as investors digested the latest inflation data. Headline inflation ticked down to 3.3% in June 2025 from 3.5% in May, yet it marked the 39th consecutive month that inflation remained above the Bank of Japan's 2% target.
This bolstered expectations that the BoJ may consider tightening monetary policy, given the prolonged period of above-target inflation. Meanwhile, data on Wednesday showed Japan's trade surplus shrank in June, falling short of expectations as exports fell for a second month and imports rose slightly.
The figures came amid ongoing concerns about Japan's economic outlook, particularly in light of escalating trade tensions. Japan now faces a new 25% US tariff on goods, set to take effect on August 1, adding to the existing 25% levy on automobiles—Japan's top export to the US. Meanwhile, Japan is scheduled to hold an Upper House election on July 20.
Source: Trading Economics
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