USD/JPY was little changed in the upper ¥159 range at 3 p.m. Dollar buying was seen against a backdrop of rising long-term U.S. Treasury yields, while expectations of an additional BOJ rate hike capped the pair's upside.
As of 3 p.m., USD/JPY was trading in the upper ¥159 range, showing a modest move toward a stronger dollar and weaker yen compared with late trading in the New York market the previous day.
Although rising long-term U.S. Treasury yields provided support for dollar buying, expectations of an additional BOJ rate hike acted as a factor limiting the pair's upside.