The USD/JPY pair is trading lower around 157.97 this morning, continuing its downward drift for a second consecutive day. A combination of hawkish Bank of Japan (BoJ) meeting minutes and ongoing U.S. Dollar weakness following the Democratic victory in the U.S. midterm elections has kept the pair under pressure.
The USDJPY currency pair closed the week on a positive note, trading around the 158.30 area. The pair secured its second consecutive weekly gain, heavily supported by a late-week surge in the U.S. Dollar following robust economic data.
