The Japanese yen weakened past 146 per dollar, marking a two-week low, after President Trump announced a 25% tariff on Japanese goods, effective August 1. Although this is lower than the previously threatened 35%, the tariff is still significantly above the standard 10% applied to most countries, increasing pressure on Tokyo to finalize a trade agreement with Washington. Japanese Prime Minister Shigeru Ishiba stated that Japan remains committed to pursuing a mutually beneficial deal. Meanwhile, the US Dollar Index (DXY) slipped below 97, retreating from earlier gains, as markets reacted to the updated tariff list affecting 14 countries, including major exporters like Japan and South Korea.

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