The Japanese yen is experiencing a decline in value as traders respond to new inflation data showing a slight decrease in core inflation to 3% in February. Despite this drop, the inflation rate still exceeds expectations. The Bank of Japan's decision to keep interest rates unchanged contributes to the yen's weakness, with Governor Ueda expressing a cautious outlook for potential rate hikes, citing rising food prices and wage increases as inflation drivers. Global trade uncertainties also impair confidence in the yen, with potential U.S. tariff policies contributing to the currency's vulnerabilities.
The Japanese yen is under pressure, retreating as inflation data shows improvement yet remains above expectations, compounded by BoJ's cautious stance on interest rates.
Bank of Japan's decision to maintain current rates reflects a cautious approach, as spikes in food costs and wage growth could influence future inflation.
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