A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan.
The yen was held at the mercy of soaring U.S. Treasury yields on Friday ahead of a closely watched rate decision by the Bank of Japan, or BOJ, while the dollar stood near a six-month peak on the prospect of higher-for-longer U.S. rates.
The Japanese currency was last marginally lower at 147.6 in early Asia trade, languishing near the previous session's more than 10-month low of 148.465.
The yen was also kept under pressure as a result of elevated U.S. Treasury yields, which scaled multi-year highs in the previous session as markets reeled from a hawkish pause by the Federal Reserve on Wednesday.
The U.S. dollar likewise rode Treasury yields higher and against a basket of currencies, the greenback touched a more than six-month high of 105.74 in the previous session.
Persons:
Daniel Hurley, Rowe Price, Ray Sharma, Ong, Sterling, BoE, Daniela Hathorn
Organizations:
Resona Bank, Treasury, Bank of Japan, Federal Reserve, U.S, New Zealand, Fed, Bank of England
Locations:
Tokyo, Japan, Asia