Valeria Bednarik, chief analyst at FXStreet noted that the Japanese yen surged at the beginning of the week, driven by a sharp decline in worldwide stocks ever since the day started.
Key Quotes:
"BOJ's Governor Kuroda commented over economic policy during the past Asian session, stating that the Central Bank is ready to act as needed to reach their 2% inflation goal, but his comments didn´t help the local currency. The common currency suffered also from comments coming from ECB's Mario Draghi, who said that he expects the current economic recovery to continue, but warned about signals that it has lost some momentum."
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