The Japanese yen traded near 149 per dollar on Thursday, staying close to its strongest levels in five months.

The currency gained from a broad weakness in the dollar, which came under pressure from a strengthening euro and the fallout from President Donald Trump's tariffs.

Trump granted tariff concessions for certain automakers, while his latest tariffs prompted retaliatory measures from the affected countries—both of which were bearish for the dollar.

Domestically, Bank of Japan Deputy Governor Shinichi Uchida remarked this week that the central bank could raise interest rates further if its economic forecasts are met, emphasizing that the exit from its extensive monetary easing program is just beginning.

Uchida also highlighted that monetary conditions remain highly accommodative, noting that the BOJ's reduction in Japanese Government Bond holdings has been limited.

Source: Trading Economics