Japanese Yen Remains Volatile Amid Trade Uncertainty
The Japanese yen strengthened beyond 147 against the U.S. dollar on Thursday, navigating a turbulent trading environment as markets reacted to evolving global trade scenarios. Investor sentiment was swayed by U.S. President Donald Trump's declaration of a 90-day suspension on reciprocal tariffs for non-retaliating countries, offering Japan some respite with a reduced 10% baseline tariff rate. However, trade tensions persisted as Trump increased tariffs on Chinese goods to 125% in response to Beijing's retaliatory actions. The European Union might also face exclusion from the tariff suspension, following its own set of countermeasures. In the meantime, the Trump administration confirmed its intentions to initiate trade discussions with Japanese officials, subsequent to a recent phone exchange between President Trump and Japanese Prime Minister Shigeru Ishiba.
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