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Yen rises after US-Japan 15% tariff deal — Bloomberg
The yen gained 0.3% against the dollar before quickly retreating following US President Donald Trump’s announcement of 15% tariffs on Japanese imports, Bloomberg reports.
On Wednesday’s open, the yen traded at 146.604. Meanwhile, Japanese government bond value fell 70 ticks to 137.90, while the 30-year yield climbed 4 basis points to 3.12%.
Carol Kong, strategist at Commonwealth Bank of Australia, noted that the yen’s brief rally reflects market optimism about the 15% tariff rate. She added that investor focus may now shift to Japan’s fiscal outlook.
The move comes after Trump’s earlier threat to impose 25% tariffs on Japanese imports in early July, a factor that, along with Japan’s upper house elections, had previously pressured the yen.
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