The Japanese yen held steady around 144.8 per dollar on Wednesday, near a one-week high, as markets digested the Bank of Japan’s latest Summary of Opinions. Policymakers maintained a cautious stance on future policy adjustments, citing heightened uncertainty in the economic outlook. The central bank reiterated that any rate hikes would depend on whether its projections for economic growth and inflation are realized, while several members stressed the importance of maintaining an accommodative stance amid ongoing global trade tensions and geopolitical risks.
On the trade front, Japanese negotiator Ryosei Akazawa is reportedly preparing for his seventh trip to the US as early as June 26 to press for the removal of US tariffs. Meanwhile, the US-brokered ceasefire between Israel and Iran appeared to hold despite isolated flare-ups. However, intelligence reports indicated that recent US missile strikes only partially damaged Iran’s nuclear facilities, delaying but not halting its program.
