在日本央行鹰派预期下，日元似乎准备进一步升值。周四，日元（JPY）连续第三天对美国货币表现出积极的走势，目前似乎已经阻止了前一天从周线高点的后期回落。周三公布的日本批发通胀数据表明，企业继续将成本转嫁给消费者，这加剧了人们对日本价格进一步上涨的担忧。

Japanese Yen seems poised to appreciate further amid hawkish BoJ expectations.The Japanese Yen (JPY) trades with a positive bias against its American counterpart for the third straight day on Thursday and for now, seems to have stalled the previous day's late pullback from the weekly high. Japan's wholesale inflation data released on Wednesday indicated that companies continued to pass on costs to consumers and added to fears of more entrenched price increases in Japan.

周四，日经225指数下跌1%，至37700点左右，而更广泛的东证指数下跌0.7%，至2745点，日本股市连续第二个交易日下跌，因为最近由美中贸易协议推动的市场反弹失去了动力。分析师指出，尽管全球贸易紧张局势的缓解提供了一些缓解，但企业盈利和经济增长的更广泛前景基本保持不变。投资者也在密切关注潜在的美日贸易协定的发展，东京的目标是在6月前敲定协议。在企业新闻方面，索尼集团在预测2025财年将受到7亿美元的关税影响后暴跌4.7%。斯巴鲁股价下跌4.6%，可能受到25亿美元的关税打击，尽管该汽车制造商宣布计划提高美国产量以抵消压力。其他值得注意的跌幅包括迪斯科（-1.6%）、藤仓（-1.7%）、川崎重工（-2%）、任天堂（-2.9%）和丰田汽车（-3%）。

The Nikkei 225 Index fell 1% to around 37,700 while the broader Topix Index dropped 0.7% to 2,745 on Thursday, with Japanese shares sliding for the second straight session as the recent market rally driven by the US-China trade deal lost momentum. Analysts noted that while easing global trade tensions offered some relief, the broader outlook for corporate earnings and economic growth remains largely unchanged. Investors are also closely watching developments in a potential US-Japan trade agreement, with Tokyo aiming to finalize a deal by June. In corporate news, Sony Group plunged 4.7% after projecting a $700 million tariff impact for fiscal 2025. Subaru shed 4.6% amid a potential $2.5 billion tariff hit, although the automaker announced plans to boost US production to offset the pressure. Other notable decliners included Disco (-1.6%), Fujikura (-1.7%), Kawasaki Heavy Industries (-2%), Nintendo (-2.9%), and Toyota Motor (-3%).

美元/日元下跌，因日本央行鹰派转变与美联储鸽派倾向发生冲突。美元/日元连续第二天下跌，因对日本央行（BoJ）紧缩政策的预期再次出现。此举是由副行长内田慎一的鹰派言论和比预期更热的4月份PPI数据推动的，这与美国疲软的通胀数据和越来越多的美联储降息猜测形成鲜明对比。

USD/JPY slides as BoJ hawkish shift clashes with Fed dovish tilt.USD/JPY is down for a second straight day on renewed expectations of the Bank of Japan (BoJ) tightening. The move is driven by hawkish remarks from Deputy Governor Shinichi Uchida and hotter-than-expected April PPI data, which contrast sharply with soft US inflation figures and growing speculation of Federal Reserve (Fed) rate cuts.

美元预测：美元/日元在4月高点之前逆转。美元/日元似乎在4月高点（150.49）之前逆转，因为它从本周开始就回吐了涨幅。

US Dollar Forecast: USD/JPY Reverses Ahead of April High.USD/JPY seems to be reversing ahead of the April high (150.49) as it gives back the advance from the start of the week.