Yen slips after US-Japan joint statement

The yen weakened to around 147.53 per dollar on Friday, surrendering previous session gains after the US and Japan reiterated their commitment to market-driven exchange rates. The statement, issued by Treasury Secretary Scott Bessent and Finance Minister Katsunobu Kato, emphasized keeping currency policy separate from trade negotiations. Investors also focused on the Bank of Japans policy amid political uncertainty, as Prime Minister Shigeru Ishiba announced his resignation. Meanwhile, US inflation data came in line with expectations, reinforcing bets on Federal Reserve rate cuts and keeping the dollar index steady near 97.24.

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