US dollar retreated against the Japanese yen during the late European session, with Japanese Economy Minister, Akira Amari, took a statement that national currency was at satisfactory levels.
The pair traded at four and a half year high, but reduced positions to 102.55.
The Japanese currency was supported after the announcement of Japans Economy Minister, who pointed out that further weakness of the yen could bring about negative effects on Japans economic subjects.
As far as the US dollar was concerned, its demand was bolstered on Friday after the release of positive news, regarding Consumer sentiment Index, which rose during May, and whats more – speculations gained strength about a short-term exit of the Federal Reserve Banks asset purchase program.
The dollar retreated against the euro as well, as the EUR/USD cross rose to 1.2860 during late European trade. Speculations appeared on Friday, that the European Central Bank was to reduce interest rates on deposits below zero, which put the euro under pressure.
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