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Yen stays away from one-month minimum

On Tuesday, the Japanese yen kept some distance from a one-month minimum against the greenback after BOJ Governor Haruhiko Kuroda held back from indicating further easing, thus acknowledging instead the costs of the bank’s aggressive stimulus.

The Japanese yen bounced back against the common currency, which dropped to 115.42 yen from Friday's one-month peak of 116.37 yen.

In spite of the fact, Kuroda signaled his willingness to expand an already massive stimulus program in his Monday’s speech, he didn’t provide any explicit hints on the likelihood of the BOJ aggressively easing policy at its upcoming review on September 20-21.

Besides this, many financial experts noted that Kuroda admitted for the first time that his stimulus program features its costs, even although he disputed the view that the major bank’s stimulus is hitting its practical limit.

The sterling maintained its firm tone, following shocking resilience in recent British economic data, trading at $1.3305 during Asia session, having hit a seven-week peak of $1.3376 on Monday.


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