Yen declined in Asian trade on Thursday against a basket of major rivals, extending losses for the sixth straight session and almost touching six-week lows as US treasury yields rebounded.

The recent Bank of Japans policy meetings minutes showed the BOJ discussed the impact of yens weakness on prices, with governor Kazuo Ueda opening the door for a rate hike next month.

The Price

The USD/JPY pair rose 0.1% today to 158.12 yen per dollar, with a session-low at 157.80.

The yen lost 0.15% on Wednesday against the dollar, the fifth loss in a row, after marking a six-week trough last week at 158.26.

The losses are mainly due to the huge difference in interest rates between the US and Japan.

US Yields

US 10-year treasury yields rose 0.9% on Thursday, on track for the first profit in three days, in turn boosting the dollar against main rivals.

The developments came ahead of important US labor data, in addition to remarks by several Fed officials.

Bank of Japan

The Bank of Japans latest meeting minutes showed that policymakers discussed the impact of a weak yen on prices.

Now investors await the upcoming meeting in July, which could result in the second Japanese interest rate cut this year.

Ueda

BOJ Governor Kazuo Ueda directly said on Tuesday that the BOJ could indeed raise interest rates once more next month according to data.