FX.co ★ Japanese Yen Holds Steady on Trade Optimism

The Japanese yen steadied at approximately 143.7 per dollar on Thursday following previous session pressures. This stabilization was aided by optimism regarding trade advancements and a softer US dollar, which bolstered overall sentiment. Japanese officials reiterated their dedication to securing a "win-win" trade agreement with the United States, though they did not disclose any specifics concerning possible concessions. Meanwhile, President Donald Trump intensified the pressure on Japan by characterizing the negotiations as "really hard" and threatening to impose tariffs as high as 35% on Japanese imports, expressing discontent over Japan's limited purchase of American rice and automobiles. Further contributing to the positive outlook, the US finalized a trade agreement with Vietnam that imposes a 20% tariff on imports, sparking hopes for additional trade progress. The yen also derived strength from the broad weakening of the dollar, as investors anticipated the upcoming June US jobs report, which could potentially bolster the rationale for a Federal Reserve rate cut as soon as July.