1333 GMT - The Japanese yen could become the only G-10 currency to outperform the dollar this year, Rabobank forex strategist Jane Foley says in a note. President Trump's trade tariff plans raise "serious doubts" that the Federal Reserve will cut interest rates further this year, she says. "Not only are tariffs set to raise prices for U.S. consumers, but the President's immigration policies are set to create labor supply issues for some sectors." However, the yen is supported by the prospect of further Bank of Japan rate rises, she says. Japan has also not yet been called out by Trump with respect to tariffs. Trump imposed tariffs on Canada, Mexico and China at the weekend. USD/JPY falls 0.3% to 154.622. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 08:33 ET (13:33 GMT)
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