India, July 11 -- The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement of a 25 percent tariff on Japanese exports this week, which will go into force on August 1.
Japanese Prime Minister Shigeru Ishiba has warned that Japan must lessen its reliance on the US in the areas of energy, food security, and defense as a result of the move, which has heightened tensions between the two countries.
Since the central bank has been obliged to halt its policy tightening due to uncertainties, trade events have been a significant factor for the Bank of Japan (BoJ). When the BoJ makes its next decision on July 31, the markets are pri...