Yen Extends Decline Amid BoJ Governor Kuroda's Speech
December 19 2014 - 2:19AM
RTTF2
The Japanese yen continued its decline against its major rivals
in late Asian deals on Friday, after the Bank of Japan governor
Haruhiko Kuroda said that impact of sales tax increase is receding
and a weak yen would aid global companies to boost their
profits.
Speaking at the press conference, Kuroda said that inflation
expectations for long term are rising and the nation is likely to
attain CPI target of around 2 percent in 2015.
The central bank would continue to monitor FX impact on economy,
he added.
The yen fell to an 8-day low of 119.46 against the U.S. dollar
and a 4-day low of 187.02 against the pound, from yesterday's
closing quotes of 118.81 and 186.16, respectively.
The yen that closed yesterday's trading at 102.62 against the
loonie, 97.01 against the aussie and 92.18 against the kiwi slipped
to a 1-week low of 103.21, 4-day low of 97.78 and an 8-day low of
93.01, respectively.
The yen edged down to session's low of 146.73 versus the euro,
while falling to 121.82 against the franc.
If the yen extends slide, it may find support around 121.5
against the greenback, 190.00 against the pound, 150.00 against the
euro, 124.00 against the franc, 99.00 against the aussie, 95.00
against the kiwi and 105.00 against the loonie.
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