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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.