Yen sinks to 148.8 as export slump fuels recession fear

The Japanese yen weakened to around 148.8 per dollar on Thursday, weighed down by lackluster trade data that reignited concerns of a technical recession. Junes trade surplus narrowed to JPY 153.1 billion from JPY 221.3 billion a year ago, while exports declined 0.5% year-on-yearmarking a second consecutive monthly fall, largely driven by US tariff headwinds. The disappointing figures stoked fears that Japans economy may shrink again in Q2. Adding to the yens weakness, the US dollar index firmed to 98.5 amid receding uncertainty over Fed policy. With economic risks rising, investors are watching for potential stimulus announcements ahead of the July 20 Upper House election.

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