News Column

Yen Pares Gain Amid BoJ Governor Kuroda's Speech

September 4, 2014

BRUSSELS (Alliance News) - The Japanese yen erased some its early gains against its key counterparts in early European deals on Thursday, as the Bank of Japan Governor Kuroda said that their easing is having the desired impact on economy and the job and income conditions are improving steadily.

At his press conference post-BoJ meet, the governor told that Japanese economy is continuing to exceed potential as a trend and impact of tax rise is expected to wane gradually.

Regarding next sales tax hike, the governor commented that there will be more risks, if the government don't raise the sales tax. "If the second sales tax hike or other external factors result in the economy worsening more than expected, there are fiscal and monetary policy measures that can be taken," he added.

The yen eased to 105.01 against the greenback, 138.00 against the euro, 114.31 against the franc and 172.75 against the pound, from early highs of 104.75, 137.68, 114.06 and 172.45, respectively.

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Source: Alliance News

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