Japanese yen moved upwards against most of the major currencies after Japanese Economy Minister Akira Amari stated that further currency losses would have a potential negative effect on households. Bloomberg reported, that yen currency jumped off from more than four year low versus US dollar, after Akira Amari expressed his concerns about a speculation, that Japanese currencys strength during previous periods had been corrected a lot.
According to Bloomberg, Japanese yen climbed by almost 1.1%, before trading at 102.67. USD/JPY hit 103.31 on May 17th, lowest value since October 2008. The gains against the euro amounted at 0.5% to 131.90.
Japanese yen dropped almost 20% during the previous six months, while US dollar gained 3.5% and the euro increased by 3.8%, according to Bloomberg Correlation Weighted Indexes.
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