SINGAPORE, April 9 Reuters The dollar was tentative on Tuesday as it failed to get a meaningful boost from a rise in U.S. Treasury yields, though that kept pressure on the yen which languished near multidecade lows and left traders on alert for any signs of intervention.
The greenback added 0.03 to 151.88 yen , holding near a 34year high of 151.975 yen hit last month as Japanese officials continued to ramp up their jawboning efforts in a bid to defend the currency.
Finance Minister Shunichi Suzuki said on Tuesday authorities would not rule out any options in dealing with excessive yen moves, repeating his warning that Tokyo is ready to act against the currency39;s recent sharp declines.
The threat of intervention from Tokyo has kept the dollar from breaching the closelywatched 152 yen level, even as U.S. Treasury yields which the dollaryen pair tends to closely track climb.
USDJPY will continue to move in a tight range from 151.0152.5, said Ryota Abe, an economist at SMBC.
He expects Japanese authorities to intervene in the currency market to curb volatilities in the event of a rapid move higher in the dollaryen pair.
Also on Tuesday, Bank of Japan Governor Kazuo Ueda said the central bank must consider reducing the degree of monetary stimulus if trend inflation continues to accelerate.
In the broader market, the New Zealand dollar hit a more than twoweek high of 0.6049, brushing off a private think tank survey that showed the country39;s business confidence in…