Global stock markets turned negative amid a tighter trade rhetoric from Washington, including the lingering doubt on US-North Korea summit. As long as riskier assets remain in the red, the yen will continue to appreciate, despite the overall in the greenback.
However, as the Fed continues to tighten, and the economic fundamentals remain solid, the dollar will stay on the offensive in the longer term. As such, the ongoing downside correction is seen as a buying opportunity with the prospects for another attack of the 111.00 threshold. In the short term, the pair will likely remain under pressure, though the buck looks attractive already around 109.00.