Yen Softens as Rebound Fades; Loonie Looks to Canadian CPI
Yen weakened broadly during Asian session today, giving back some of last week's strong gains that were reportedly driven by Japan's market intervention. Japan's Chief Cabinet Secretary Yoshimasa Hayashi repeated in a press conference that it is crucial for currency rates to move "stably" and reflect economic fundamentals. He reiterated the government's commitment to taking necessary measures against speculative moves in Yen's exchange rate.
Yen weakened broadly during Asian session today, giving back some of last week's strong gains that were reportedly driven by Japan's market intervention. Japan's Chief Cabinet Secretary Yoshimasa Hayashi repeated in a press conference that it is crucial for currency rates to move "stably" and reflect economic fundamentals. He reiterated the government's commitment to taking necessary measures against speculative moves in Yen's exchange rate.
