The Japanese yen traded around 149.5 per dollar on Tuesday, holding near its highest level in 12 weeks, underpinned by firm expectations that the Bank of Japan will continue raising interest rates this year following upside surprises in fourth-quarter inflation.
Investors are now focusing on a series of key economic reports set for Friday, including data on industrial production, retail sales, and Tokyo inflation, which could provide further guidance on the central bank’s monetary policy.
The yen also received support from safe-haven flows amid ongoing geopolitical and trade uncertainties.
On Monday, US President Donald Trump announced that tariffs on Canada and Mexico “will go forward” after the one-month delay period expires next week.
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