2/5/2025, 9:12:03 am

US dollar rallies on continued trade deal optimism; yen slumps

The U.S. dollar rebounded on optimism over potential tariff deals with trading partners, rising 1.7% against the yen to a four-week high of 145.52. The yen fell to multi-month lows against the euro and dollar after the Bank of Japan cut growth forecasts and kept rates steady. U.S. jobless claims surged to a two-month high, while manufacturing contracted further in April.