Yen pressured by firmer dollar as hawkish policy bets persist
USD/JPY held firmer on Tuesday, with traders pointing to Japan lagging global central banks on a hawkish turn and a wide interest-rate gap versus major peers; moves were contained by a Japan holiday.
The yen came under pressure from a firmer dollar on Tuesday as traders wagered that policymakers in Japan would struggle to keep pace with the hawkish shift among global central banks, leaving the country's interest rates far below those of major peers. Moves were limited by a holiday in Japan.