Tag Archives: JPY

Yen Makes Headway Against the Dollar

Yen Makes Headway Against the Dollar

The yen went up for a second day in a row on Wednesday against the dollar which glided to 95.56 yen from 96.05 yen in New York late Tuesday evening. Later this week the Japanese parliament will likely confirm the nomination of Haruhiko Kuroda, an advocate of quantitative easing, as Bank of Japan’s next governor. Kuroda has promised to implement sweeping measures to push Japan’s inflation to two per cent, a rarely seen figure in Japanese fiscal history. Investors are pondering rumors that Japan’s largest opposition party will vote against one of the government’s nominees for deputy governor of the Bank of Japan.

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