The yen, jolted in a 750-plus point range against the dollar in the week since Donald Trump's presidential win, could fall back toward a February low of ¥115 on prospects of rapid U.S. interest rate increases.

The dollar marked a five-month high above ¥108.50 on Monday, having sunk to almost ¥101 just a week ago as financial markets were gripped by turmoil in the wake of Trump's stunning upset. It was trading at ¥107.95 on Tuesday afternoon.

The yen's tumble has defied all expectations, given a Trump presidency was expected to trigger a rush to safe-havens such as the Japanese currency and gold as the freewheeling former reality TV star's stance on trade, foreign policy and immigration had spooked policymakers and investors around the world.