Japanese Yen Recovers After Intraday Losses

The Japanese yen fell during the Thursday trading session but has managed to trim its losses against some rivals and erase them outright versus other by now.

The Bank of Japan released the Summary of Opinions at the Monetary Policy Meeting in April. It showed that the central bank thinks it is too early to discuss policy normalization until the bank is close to achieving its 2% inflation target.

The BoJ reported that bank lending rose 2.1% in April, year-on-year, after increasing 2.0% in March. Analysts had expected a slowdown of growth to 1.9%.

The current account surplus widened to Â¥1.77 trillion in March from Â¥0.96 trillion in the previous month. The actual value was above the median forecast of Â¥1.62 trillion.

USD/JPY fell from 109.74 to 109.36 as of 12:31 GMT today after rallying to 110.01 earlier. EUR/JPY traded at 130.18 after opening at 129.98 and rising to the daily high of 130.56. GBP/JPY pulled back to 148.21 following the jump from 148.63 to 149.30.

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