The Japanese yen marked its first climb in four days on Tuesday against the world's reserve currency after Bank of Japan minutes from last month's policy meeting indicated members of the policy are concerned about the Pacific Rim nation's economic outlook, Bloomberg reports.
The yen rose from its six-month low against the U.S. dollar after the minutes showed questions persist about whether Japan will achieve the 2 percent inflation target. The yen dropped about 0.2 percent against the shared currency of the European Union.
"The yen and the franc are both often considered as safe-haven currencies," chief currency analyst Minori Uchida with Bank of Tokyo-Mitsubishi UFJ told Reuters on Tuesday. "The fact that the yen is at a two-decade low against the Swiss franc symbolises how weak the yen is at the moment."
The Japanese yen advanced about 0.2 percent against the greenback after dropping to its lowest value since late May during the Monday trading session.
The yen's rise against the dollar also was spurred by U.S. economic data indicating contracts to acquire previously owned U.S. homes fell to their lowest rate in 10 months in October, Reuters reports.
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