The yen outperformed all its Group-of-10 peers on Thursday while Japanese bonds rallied after the latest US tariff announcement boosted haven demand. Stocks in Tokyo led declines among major Asian markets.

The narrowing of the US-Japan rate differential drives flows toward the lower-yielding JPY.

Explore the top USD/JPY forecast after the trade war between Japan and the United States escalated this week because of tariffs

US President Donald Trump decided to impose 10% tariffs to all imports and a 24% specifically on Japan. USD/JPY seesaws within the 149.00 - 150.48 range amid Trump’s speech in the White House. The USD/JPY trades volatily as US President Donald Trump announces reciprocal tariffs on Liberation Day,

US President Donald Trump has announced a sweeping new round of tariffs on America's trading partners worldwide.

Shares tumbled in Europe and Asia and U.S. futures tumbled Thursday following U.S. President Donald Trump 's announcement of big increases in tariffs on imports of goods from around the world. The double-digit tariff hikes sent shivers across

Japanese Prime Minister Shigeru Ishiba said on Thursday he was disappointed that his country did not win an exemption from President Donald Trump's new tariffs and promised measures to help domestic industry deal with the fallout.

The dollar strengthened against the Japanese yen and the euro on Monday, but was set for its largest quarterly decline since July 2024, as uncertainty around U.S. tariffs kept traders mostly on the sidelines waiting for clarity on President Donald Trump's trade policies.

The yen jumped and the dollar index edged higher on Tuesday as investors moved into safe-haven currencies ahead of reciprocal tariffs that U.S. President Donald Trump is due to announce on Wednesday.