Japanese yen rose as concerns of negative influence by losses appeared

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.