Japanese Yen Strengthens for 3rd Consecutive Session
The Japanese yen experienced an uptick, reaching approximately 146 per dollar on Thursday. This marked the yen's third consecutive session of gains, as ongoing global trade uncertainties exerted pressure on the dollar while bolstering other currencies. The yen's strength was further supported by a broader surge in Asian currencies, driven by speculation that the U.S. is promoting a weaker dollar stance within the framework of existing trade negotiations. The Trump administration has contended that the comparative weakness of Asian currencies provides an unfair trade advantage to regional exporters over their U.S. competitors. Simultaneously, investors are paying close attention to progress in the US-Japan trade discussions, with Tokyo aiming to conclude an agreement by June. Prime Minister Shigeru Ishiba has underscored that Japan will not agree to a preliminary deal lacking provisions on automobiles, urging Washington to eliminate its 25% tariff on Japanese vehicles.
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