The Japanese yen hovered around 148.3 per dollar on Tuesday, holding near one-week lows after a sharp three-day decline, pressured by broad dollar strength. The greenback remained supported as recent global trade agreements are seen as disproportionately benefiting the US economy.
US President Donald Trump also reiterated on Monday that countries unwilling to negotiate separate trade deals could soon face tariffs of 15% to 20%, significantly above the 10% headline rate imposed in April. On the domestic front, the Bank of Japan is set to announce its latest policy decision this week.
While rates are widely expected to remain unchanged amid ongoing tariff-related uncertainty, the central bank is likely to revise its inflation forecast upward in its quarterly outlook. Meanwhile, political tensions continued to simmer, with growing calls for Prime Minister Shigeru Ishiba's resignation. Ishiba, however, reaffirmed his intention to remain in office.
Source: Trading Economics
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