Yen-selling pressure eases as Japan rates top Switzerland’s

Yen-selling pressure eases as Japan rates top Switzerland's Yen-selling pressure eases as Japan rates top Switzerland's

TOKYO — Downward pressure on the yen is easing as Japan’s policy rate has surpassed Switzerland’s for the first time in two years, reducing the appeal of yen carry trades.

The Japanese currency traded at around 149 to the dollar in Tokyo’s currency market on Friday, the first session following the latest monet policy meetings in the U.S. and Japan. While some domestic importers appeared to have sold the yen, few market watchers expect an extreme slide like when it touched the 160-to-the-dollar range last year.