Chart USD/JPY

The Bank of Japan left all its monetary policy settings alone, as expected.
The Yen was already weaker against the US Dollar as markets eye a nuclear deal with North Korea. North Korea rapprochement hopes, softer US tariff hike buoy sentiment

That means that the key overnight rate says at -0.1%, the ten-year Japanese Government Bond Yield will be kept at 0%. The BoJ may be more actively considering when to draw a line under its long period of extreme monetary easing.
News of possible nuclear rapprochement between North Korea and the US Friday may further weaken demand for the Yen, which is usually seen as the haven currency, in demand when risk appetite is skittish. South Korea's National Security Council chief Chung Eui-yong said Kim Jong Un is now committed to denuclearization and will not conduct further arms tests.

Chart USD/JPY remains stuck in the well-respected downtrend channel which has marked trade since early January. However, it has staged a modest bounce in the past week.

Mr Trump also unveiled an increase in steel and aluminum tariffs that proved significantly more benign than many feared. Canada and Mexico were exempted as NAFTA renegotiation continues and other ally nations were given “at least 15 days” to lobby for and strike a deal on a reprieve. Looking ahead, February's US employment data is firmly in the spotlight.