The Japanese yen slid below 147 per dollar on Wednesday, logging its third straight daily loss amid rising tensions in US-Japan trade talks. The latest rift centers on Japans protection of its rice market, drawing criticism from the US. President Trump announced a 25% tariff on Japanese goods, effective August 1, firmly ruling out any delays or revisions. The US Dollar Index remained resilient above 97, supported by investor confidence and stronger demand for the greenback. The dollar made its biggest gains against the yen, as Tokyo faces growing pressure to finalize a trade deal with Washington. All eyes are now on the FOMC minutes, expected to offer more clarity on the Feds policy path.
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