TOKYO — The Japanese yen weakened on Thursday after Bank of Japan Gov. Kazuo Ueda struck a dovish tone, highlighting “extremely high” policy uncertainty now that the U.S.’s “reciprocal” tariffs are shaking up global trade and markets.
The yen depreciated to 144.71 against the dollar at one point during Ueda’s press conference, losing 1.3% of its value and reaching its lowest level in three weeks. The 10-year Japanese government bond yield fell to 1.265%, a 4.5-basis-point drop from the previous day and the lowest since April 9. Bond yields move inversely to prices.
