The dollar dipped slightly from its overnight levels against the yen in Asian trading Friday as players locked in profits, but analysts say upward pressures for the currency remain relatively strong. The yen showed no reaction to the Bank of Japan's widely expected decision Friday to allow excess liquidity in the financial system to fall below the lower end of its target. But the central bank, also known as the BOJ, kept its target unchanged, and Japan continues to keep its interest rates basically at zero to encourage a fragile recovery. "Basically, it's not really a change in policy because the BOJ left its target in place," said Akifumi Uchida, senior manager of financial products at Sumitomo Trust & Banking Co. in Tokyo. Hedge funds and foreign banks, concerned that the dollar has risen too quickly this month, sold it aggressively, wiping out its initial rally, traders said. Despite the dollar's fall, many market participants say the dollar still is bullish because of expectation for higher U.S. interest rates and strong economic growth. Prospects for higher interest rates are generally positive toward that nation's currency. Bright news about an economy also tends to boost the value of the currency. Overnight in New York, the dollar advanced as investor speculation over the actions of Asian central banks and a broadening improvement in sentiment for the U.S. currency's prospects.