The Japanese yen has seen a short-term pullback following recent trade data, revealing a sixth consecutive month of export growth, although the pace has slowed more than expected. Trade tensions, especially concerns over U.S. tariffs, negatively affect market sentiment. While exports to the U.S. show modest increase, the situation is uneven particularly with a decline in exports to China. The Bank of Japan has raised concerns regarding potential impacts on domestic economic factors, though the yen’s safe-haven status remains a support. Upcoming inflation data is critical for future central bank actions.
The Japanese yen has experienced a pullback as traders responded to March export data, which grew for the sixth straight month but slowed significantly from February.
Heightened trade tensions, notably the potential for sweeping U.S. tariffs on Japanese products, have created an uncertain environment which diminished sentiment and added to short-term currency weakness.
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