The Japanese yen declined in the Asian market on Tuesday against a basket of currencies, continuing its losses for the third consecutive day against the US dollar, near a two-and-a-half-month low, and on the verge of trading below the 150 per US dollar level. This drop is due to renewed concerns over the interest rate differential between Japan and the United States.
Less aggressive comments in Japan have weakened the likelihood of a third interest rate hike in Japan this year, while bets have increased that the Federal Reserve will proceed with modest interest rate cuts in the near future
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