The yen has fallen to the low ¥157s against the dollar, prompting dollar buying on the view that the Japan-U.S. interest rate differential will not narrow.
The yen is trading in the low ¥157s against the dollar, with investors selling yen and buying dollars.
One factor is the growing view that the Japan-U.S. interest rate differential is unlikely to narrow, which may be driving relatively stronger demand for the dollar in the foreign exchange market.