The Japanese yen opened sharply lower today as Bank of Japan Deputy Governor Kikuo Iwata said that the central bank will maintain its monetary easing. The currency attempted to regain some of its strength since the opening, but failed so far.
Iwata said over the weekend that the BoJ will continue to buy bonds until it reaches the 2 percent inflation target. Such comments hurt the yen and improved the risk sentiment of traders. The MSCI Asia Pacific Index of stocks climbed as much as 1 percent.
USD/JPY traded at 97.68 today after closing at 97.38 on Friday and EUR/JPY was near 134.84 as of 9:23 GMT today following the Friday’s close of 134.45.
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