India, Aug. 13 -- The Japanese yen weakened against other major currencies in the Asian session on Wednesday, as the uncertainty about the likely time of the Bank of Japan's (BoJ) next interest rate hike and the increasing risk-on mood by the investors keeps the safe haven JPY declining.
Investors currently seem to believe that the BoJ's chances of further policy normalization would be further delayed due to the domestic political instability and the possible harm that higher U.S. tariffs could do to the economy.
The Asian shares traded higher amid improved outlook for interest rates after US consumer price inflation for July came in line with expectations. The U.S. and China also confirmed a 90-day extension of their trade truce.
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