Ella 
The yen remained in the lead against the dollar on Tuesday despite a lack of follow-through buying and remained close to its lowest levels since early August the previous day. However, the yen still appears to be struggling to achieve any meaningful gains amid uncertainty over the Bank of Japan’s (BoJ) rate hike plans. This, coupled with an overall positive risk tone, should dampen gains in the safe-haven yen.
At the same time, rising expectations that the Federal Reserve’s policy easing efforts will weaken and that it will cut interest rates by 25 basis points in November have kept U.S. Treasury yields high. That helped the U.S. dollar (USD) hold on to two-month highs and limited upside for the lower-yielding yen. Therefore, any subsequent decline in the USD/JPY pair may still be viewed as a buying opportunity, with gains limited.
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JPY/USD Looks Vulnerable, Hovering Near Lowest Levels Since August” href=”https://www.fxcurrencyconverter.com/archives/57518″ rel=”bookmark”>JPY/USD Looks Vulnerable, Hovering Near Lowest Levels Since August
