Yen hits 2-week high as US-Japan trade deal boosts sentiment

The Japanese yen climbed past 146 per dollar on Thursday, marking a two-week high as optimism over the new US-Japan trade deal spurred demand. The agreement includes a reduced 15% tariff on Japanese exports, down from the 25% previously threatened by President Trump, fueling stronger market confidence. Broader sentiment was lifted by progress in US-EU trade talks, while the US dollar index slipped toward 97, nearing a three-week low. Domestically, Japans private sector growth remained stable in July, supported by solid services activity, though manufacturing activity slipped into contraction.

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