India, June 19 -- The Japanese yen retreated from early highs against its major currencies in the European session on Thursday, amid rising speculation that the Bank of Japan (BoJ) may take a long time before raising interest rates again this year.
Recently, the BoJ Governor Kazuo Ueda stated that the central bank's near-term focus was on downside risks to Japan's economy, with the impact of U.S. tariffs projected to intensify in the second half of this year, implying that the BoJ was not in a hurry to initiate rate hikes.
The uncertainty surrounding U.S. trade policies is also expected to weigh on the JPY.
Traders await the Japan's May National Consumer Price Index (CPI) data and Bank of Japan (BoJ) Monetary Policy Meeting Minutes, due ...