Asian Currencies Steady as Yen Rallies on BOJ Rate-Hike Signal

Most Asian currencies traded in narrow ranges on Tuesday, with the U.S. Dollar Index dipping slightly and the Japanese yen strengthening after the Bank of Japan signaled further rate hikes amid rising inflation.

Dollar Index Edges Lower

• The U.S. Dollar Index fell 0.1% in Asia hours to a one-month low.

• Dollar Index Futures also slipped 0.1%, reflecting muted demand for the greenback.

For live cross-currency rates and historical trends, investors can tap the Forex Daily API to see updated USD, JPY, CNY and other Asian FX pairs in real time.

Yen Strengthens on BOJ Hawkish Turn

Bank of Japan Governor Kazuo Ueda said he's prepared to raise interest rates further if economic momentum and inflationary pressures continue—core consumer inflation hit a two-year high in April. In reaction:

• The USD/JPY pair declined 0.5%, as higher rates boost the yen's appeal.

• Strong wage gains and solid economic data underpin the BOJ's hawkish stance.

Asia FX Subdued Amid Trade Uncertainty

• Trump's Tariff Delay: President Trump extended his 50% EU-tariff deadline to July 9, keeping markets on edge.

• Trade Talks Ahead: Japanese ministers head to Washington in early June for the fourth round of trade negotiations, adding to caution.

To track these and other key policy dates—like U.S. tariff deadlines and BOJ meetings—use the Economics Calendar API for a consolidated view of upcoming events that drive FX volatility.