By Kevin Buckland
TOKYO (Reuters) – The yen continued to drift lower versus the dollar on Tuesday as open interest rate differentials weighed on the currency, regardlessof fresh cautions from Japanese authorities following 2 rounds of presumed dollar-selling intervention last week.
The Australian dollar hovered close to a two-month high versus its U.S. equivalent with the Reserve Bank of Australia extensively anticipated to keep rates stable later in the day, and traders on watch for a more hawkish position from Governor Michele Bullock.
The U.S. dollar got 0.22% to 154.235 yen in early Asian trading, including to its 0.58% rally from Monday.
On Friday, it sank as low as 151.86 yen for the veryfirst time because April 10, as softer-than-expected month-to-month U.S. tasks information included to the losses following what Bank of Japan information recommended might haveactually been a overall of some 9 trillion yen ($58.37 billion) in authorities intervention.
Japan’s Ministry of Finance hasactually refrained from commenting on whether it was behind the dollar selling, however leading currency diplomat Masato Kanda duplicated on Tuesday that the federalgovernment “will continue to take the exactsame company method” to disorderly yen relocations.
However, with a Federal Reserve rate cut mostlikely to take some time and the BOJ taking a careful a