Japanese Yen Flatlines on US-Iran Deal, BoJ Rate Hike Expectations

The USD/JPY pair is trading on a flat note near 160.20 during Asian hours on Monday. The US Dollar has weakened against the Japanese Yen following reports that the United States agreed to a peace deal with Iran. Meanwhile, expectations of a Bank of Japan rate hike continue to support the Yen, preventing further downside. The pair remains range-bound as traders weigh these opposing factors.