FX.co ★ Japanese Yen Rises on Renewed Tariff Concerns

The Japanese yen strengthened to approximately 144 per dollar on Thursday, continuing its upward trend from the previous session. This movement was fueled by renewed threats of tariffs from US President Donald Trump, which increased demand for safe-haven assets. Trump announced his intention to send out communications to major trading partners in the upcoming weeks, outlining unilateral tariffs designed to coerce these nations into entering trade agreements. Meanwhile, fresh data from Japan indicated a further decline in business confidence during the second quarter, largely due to the uncertainty surrounding US trade policies, which is adversely affecting Japan's export-reliant economy. Additionally, Bank of Japan Governor Kazuo Ueda informed parliament on Tuesday that the central bank is ready to raise interest rates once more, provided there is adequate confidence that core inflation is nearing or stabilizing around the 2% target.