USD/JPY hesitates above 144.50 with investors awaiting news about tariffs

• The Dollar treads water against the Yen in a quiet market session.
• Investors are looking from the sidelines, awaiting news from the US-China meeting.
• Dovish comments from BoJ Governor Ueda have called rate hike expectations into question.
  

The US Dollar is trading without a clear bias, for the second consecutive day, against the Japanese Yen. The Doji candles in the daily chart highlight investors' reluctance to place directional bets as US and Chinese representatives negotiate a trade deal.

Positive comments from US President Trump and Economic Council Director, Kevin Hassett, are keeping hopes of a satisfactory outcome alive, but traders are looking from the sidelines, awaiting news of more concrete advances.

The world's two largest economies are looking to return to the spirit og last week's meeting in Geneva, which led to a significant reduction of their reciprocal tariffs. This time, however, a deal requires concessions in thorny aspects, such as rare earths trade or chip exports.

In Japan, BOJ Governour Ueda affirmed that the Bank will hike rates again when they are confident that inflation is nearing 2%, which casts doubt about further monetary tightening in the coming months, and added bearish pressure on the Japanese Yen.

These comments have offset investors' optimism about a better-than-expected Japanese Gross Domestic Product remained flat in Q1 following a 0.2% contraction in the previous quarter, and beating expectations of another 0.2% economic slowdown.