The Japanese yen traded lower today as the threat of an intervention continues to loom over the currency, discouraging traders from buying it.
Haruhiko Kuroda, Governor of the Bank of Japan, reiterated yesterday that he is ready to add stimulus if he deems that necessary. Kuroda told reporters:
Be it exchange rates or anything, if it has negative effects on our efforts to achieve our price-stability target, and from that perspective if we figure that action is necessary, we will undertake additional easing measures.
As it usually happens, prospects for monetary easing or an intervention made the currency weaker.
USD/JPY rose from 109.95 to 110.28 as of 8:43 GMT today. EUR/JPY gained from 123.16 to 123.78.
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