Following the comments from the Japanese Economy Minister Yasutoshi Nishimura, the Finance Minister Taro Aso made some remarks on the exchange rate level, in light of the recent yen appreciation.
“Monetary easing has helped stabilize the dollar at the 105-110-yen range.”
“I'm closely liaising with BOJ Governor Kuroda.”
The yen gains additional strength on the above upbeat remarks, dragging USD/JPY further south to test the seven-week lows of 104.52 reached Thursday.
Broad US dollar selling also collaborates with the downside in the spot.
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