Speculation about the U.S. central bank keeping its economy-spurring stimulus measures in place pulled down the Japanese yen against all of its major rivals on Thursday, according to Bloomberg.
Losses for the monetary unit of the Pacific Rim nation against the U.S. dollar and the common currency of the European Union were approximately 0.4 percent. Chairman Ben Bernanke with the U.S. Federal Reserve said last week that the body he leads is aiming to taper measures during the next several months and, if possible, close the program by the end of the year.
The Economic Times reports Prime Minister Shinzo Abe marked his sixth month in office on Wednesday by telling reporters he plans to re-double efforts to strengthen the economy.
"A country that has lost economic strength cannot sustain its strength as a nation state. It cannot exercise its diplomatic and security strength," the leader told reporters, according to The Economic Times. "To regain the country's strength, to regain national pride, I think I must focus on regaining our economic strength. In the three years of stable politics, I will basically focus on it."
Japanese elections are planned for next month and the Liberal Democratic Party of the Japanese leader, is poised to perform strongly, The Economic Times reports.
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