Washington: The US dollar declined against the Japanese yen on Wednesday, following an announcement by US President Donald Trump of a trade agreement with Japan ahead of an imminent tariff deadline.

According to Qatar News Agency, President Trump stated that the agreement includes a $550 billion investment by Japan in the United States, alongside a 15% tariff on Japanese exports to the US. The news had an immediate impact on currency markets, affecting the performance of the US dollar.

The US dollar index, which tracks the currency's performance against six other major currencies, saw a drop of 0.4% to 97.423 points. In early trading, the dollar fell slightly against the Japanese yen, declining by 0.05% to 146.65 yen, following a 0.5% drop in the previous session.

In other currency movements, the euro edged down by 0.1% to $1.1745, while the British pound showed little change, remaining at $1.35285.