Yen Drops to Mid-154 per Dollar as BOJ Postpones Hike

Receding Fed-cut bets lifted U.S. yields, steering flows into dollars.

Overview

In Tokyo at 17:00 JST, the dollar traded at ¥154.30–154.32, leaving the yen about ¥0.87 weaker than the prior day.
EUR/JPY was quoted at ¥178.44–¥178.48 at the same Tokyo close snapshot.
Market participants said the next BOJ rate hike still appears some distance away, reinforcing yen selling.
Traders favored dollars on the view that the Japan–U.S. interest-rate gap is not narrowing.
By 08:40 in New York, the yen hovered at ¥153.92–¥154.02 per dollar, keeping it near the ¥154 line.