FX.co ★ Yen Steady as BOJ Maintains Cautious Outlook

The Japanese yen remained stable at approximately 144.8 per dollar on Wednesday, hovering near a one-week high as markets absorbed the latest insights from the Bank of Japan's Summary of Opinions. Policymakers expressed caution regarding future policy changes, emphasizing the increased uncertainty in the economic outlook. The central bank reiterated that any potential interest rate hikes would be contingent upon the realization of its projections for economic growth and inflation. Several members underscored the necessity of maintaining a supportive monetary policy in light of ongoing global trade tensions and geopolitical risks. On the trade front, Japanese negotiator Ryosei Akazawa is reportedly preparing for his seventh visit to the United States, potentially as soon as June 26, to advocate for the removal of U.S. tariffs. Meanwhile, despite some isolated incidents, the U.S.-brokered ceasefire between Israel and Iran seemed to be holding. However, intelligence reports suggested that recent U.S. missile attacks only partially damaged Iran's nuclear facilities, causing delays but not halting the program.