The Japanese Yen weakened against major currencies on Thursday, pressured by a widening trade deficit driven by elevated energy prices. This development has pushed the USD/JPY pair higher during the European trading session.
According to FX Street, USD/JPY was trading approximately 0.22% higher, reaching around 158.50. The move reflects ongoing challenges in Japan's external balances amid rising import costs.
For Japanese investors and traders, the Yen's softness underscores vulnerabilities linked to energy import dependence and its impact on trade figures, which remain critical for market sentiment and policy considerations.