Ella 
The yen fell for a fourth straight session on Tuesday as a result of the wide interest rate differential between Japan and the United States. Pressure on the Japanese yen supports USD/JPY. Market sentiment is that the Bank of Japan (BoJ) may raise interest rates ahead of schedule amid a weak yen.
Japanese Finance Minister Shunichi Suzuki expressed concern about the negative impact of a weak yen. Suzuki also said that as long-term bond yields rise, market discussion is focused on Japan’s appropriate government bond policy. People want wages to grow faster than inflation. He said he was paying close attention to foreign exchange trends.
The U.S. dollar (USD) traded steady as no important U.S. economic data was released. Higher U.S. Treasury yields provided support for the dollar. The Fed remains cautious on inflation and the prospect of a rate cut in 2024.
