The trade group representing the traditional Big Three US automakers is objecting to the US agreement with Japan, saying it would be unfair to American automakers and parts suppliers.

The U.S. dollar strengthened against the Swiss franc and euro but weakened versus the yen on Wednesday as positive sentiment from a new U.S. trade deal was offset by political uncertainty surrounding Japanese Prime Minister Shigeru Ishiba's future.

Investors will be hoping for a late flurry of more trade deals ahead of the Aug. 1 deadline for higher tariff rates to come into effect.

Trade pact would lower tariffs on car imports from Japan to 15% from 25%, spurring hope that other countries could get similar deals

Leaders of the European Union and Japan have launched an alliance aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China.

Japan's trade agreement with the U.S. could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight,

Japanese Prime Minister Shigeru Ishiba has again denied reports that he plans to resign after his party's historic election defeat