Dollar at more than two-week high versus yen as trade war intensifies

July 9, 2025

The dollar strengthened against the yen following President Trump’s tariff announcements on Japan and other trade partners, though previous tariffs initially weakened the dollar. Uncertainty prevails as Trump threatens new tariffs on copper, semiconductors, and pharmaceuticals, while the EU may receive exemptions. Japan, struggling to reach a trade deal, faces currency pressure amid upcoming elections and rising JGB yields.

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