The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023.
The dollar index held around 2-1/2-month lows after minutes of the Federal Reserve's last meeting did little to dislodge market expectations that its monetary tightening cycle was over.
Treasury yields slipped again overnight to hover around 4.40%, easing further pressure on the yen.
The Japanese yen advanced around 0.1% versus the greenback to 148.28, clinging to recent gains after ticking up slightly from as low as 147.155 overnight.
While speculation that the Bank of Japan could exit from negative interest rates early next year should help stabilize the yen, the Japanese currency still faces strong headwinds.
Persons:
Matt Simpson, CME's, Sterling, Simpson, Tony Sycamore
Organizations:
U.S, Index, Treasury, Bank of Japan, IG
Locations:
Yichang, Hubei province, U.S