FX.co ★ Japanese Yen Gains as Dollar Retreats

The Japanese yen edged closer to 150 against the dollar on Thursday, recovering some ground lost in the prior session. This movement came as the dollar weakened following President Donald Trump's announcement of a 25% tariff on car imports, declaring that the forthcoming reciprocal tariffs will remain a fixture throughout his second term. The intensification of tariffs by Trump sparked concerns over possible retaliations and broader economic disruptions, contributing to increased currency market volatility. On the domestic front, Bank of Japan Governor Kazuo Ueda addressed parliament, affirming that the central bank would persist with interest rate hikes if current economic forecasts materialize. He remarked on the stronger-than-expected economic growth, underpinned by rising incomes that have bolstered consumer spending. Investors are now keenly awaiting further insights from the BOJ Summary of Opinions and Tokyo inflation data, both scheduled for release on Friday.