India, March 5 -- The Japanese yen weakened against other major currencies in the Asian session on Wednesday, as investors reacted positively to the actions taken by China to counter the effects of deflation and a slew of upbeat GDP and PMI data from the region. Markets are also cautious following the imposition of tariffs by U.S. in Canada, Mexico and China, and the retaliatory measures by China and Canada.
Offering a temporary reprieve from tariff worries, U.S. Commerce Secretary Howard Lutnick hinted that some relief could be around the corner for Canada and Mexico.
A potential deal is expected to involve reducing, at least partially, the new 25 percent tariffs on imports from both countries.
Elsewhere, Beijing announced a 2025 econom...