TOKYO (Reuters) -Japan's leading trade negotiator said on Tuesday that the trade deal Tokyo agreed with the United States last week guarantees Japan will always receive the lowest tariff rate on chips and pharmaceuticals of all the pacts negotiated by Washington.

The dollar hit a one-month high versus the euro on Tuesday in the wake of a string of trade agreements between the United States and its major trade partners, while markets await interest rate decisions from the Federal Reserve and the Bank of Japan.

The new U.S.-Japan trade deal lowers tariffs and strengthens economic ties, helping challenge China's regional aggression and instability.

Recent pacts with Britain, Europe and Japan mean that autos exported from those countries and regions face lower U.S. tariffs than Canadian vehicles do.

View PDF After more than three months of formal negotiations and many more months of speculation about the Trump administration’s trade and economic policy toward Japan, Washington and Tokyo have agreed to a trade deal.