Forex
USD Under Pressure as BoJ Rate Hike Expectations Boost JPY
The US Dollar (USD) is under pressure against the Japanese Yen (JPY), trading at around 159.00 during the Asian session on Friday.
The pair has consolidated in a limited range, while both currencies are underperforming against their peers.
Financial experts believe the JPY could outperform the USD as the Bank of Japan (BoJ) is expected to maintain a tight monetary policy path.
Rabobank's FX team notes that the recent move lower in the Dollar, following news of Treasury Secretary Bessent's buyback plans, has helped relieve some of the immediate strain on the pair.