SINGAPORE, Nov 14 Reuters The battered yen was stuck near a threedecade low against the dollar on Tuesday, struggling to find a floor as the Bank of Japan39;s BOJ ultraeasy monetary policy settings remained at odds with the prospect of higherforlonger rates elsewhere.
The Japanese currency slumped to a 15year low of 162.38 per euro in early Asia trade and slid to a roughly threemonth trough of 186.25 per British pound .
Against the dollar, the yen last stood at 151.70 , languishing near a oneyear low of 151.92 hit on Monday. A break below last year39;s trough of 151.94 per dollar would mark a fresh 33year low for the yen.
The yen had jumped briefly against the greenback in New York hours on Monday after striking the yeartodate low, which analysts attributed to a flurry of trading in options that come due this week rather than any intervention moves from Japanese authorities.
DTCC data from LSEG39;s Eikon platform shows yen options worth a notional 3.5 billion with strike prices between 151.90 and 152 are due to expire between Wednesday and Friday.
I think options could continue to act as a resistance for dollaryen, said Carol Kong, a currency strategist at Commonwealth Bank of Australia. So will fears of further BOJ intervention.
Japanese authorities in September last year intervened in the currency market to boost the yen for the first time since 1998, after a BOJ decision to maintain its ultraloose monetary policy drove the yen as low as 145 per dollar.
It…