Today, the Japanese yen (JPY) is among the strongest performing currencies, strengthening sharply following the recent announcement of new U.S. tariffs. Investors are coming back to the old traditional safe-haven currencies such as the yen and the Swiss franc (CHF) in response to the increased uncertainty surrounding global trade. As a result, the USDJPY pair has declined by 0.97%, currently trading around 144.90.
This move highlights the yen’s renewed appeal as a safe-haven asset. The shift comes as markets increasingly price in the potential economic fallout from escalating trade disputes. Moreover, a joint extraordinary meeting is set to take place Today at 07:00 GMT between Japan’s Ministry of Finance (MOF), the Financial Services Agency (FSA), and the BoJ. The upcoming meeting is expected to address recent developments in international financial markets. While the meeting may conclude with a joint statement, it is unlikely to contain any decisive policy actions.
Governor Ueda signaled that the central bank remains open to further policy tightening. He stated that the BoJ “will continue to raise rates if the economy keeps improving in line with our outlook.” Governor Ueda also noted that Japan’s economy is “recovering moderately, albeit with some weak signs,” and emphasized that inflation remains below the BoJ’s 2% target, but is “gradually accelerating.” He stressed the importance of vigilance in light of rising global trade policy uncertainties and reiterated the BoJ’s commitment to making appropriate policy decisions based on a comprehensive review of domestic and overseas economic conditions, price developments, and financial market behavior—including the impact of U.S. trade policy.
Source: xStation 5
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