March Japanese Yen futures continued a downward trend, marking the sixth decline in the last seven sessions with a total move lower of 2.79% over that period. The currency faced downward pressure following reports that Prime Minister Takeuchi pushed back against further rate hikes during meetings with Bank of Japan leadership. While the central bank has signaled that further normalization remains possible, the political preference for looser monetary policy has clouded the interest rate outlook. Market volatility increased following reports of these policy discussions, with the yen selling off significantly against the U.S. dollar. Additionally, global trade dynamics and the implementation of a 15% global tariff under the Trade Act of 1974 created further crosswinds. Although the U.S. dollar was slightly lower in aggregate, it found footing against the yen as traders weighed the impact of judicial rulings and new trade pathways on currency valuations.