The Japanese yen pushed ahead on Wednesday against the world's reserve currency for the first day this week as the monetary unit of the Pacific Rim nation fell in demand while Japanese and European stocks lost value, according to Bloomberg.
The yen climbed against all but one of its top rival currencies one day after the Bank of Japan stated it is pushing forward with lending programs.
The central bank announcement on Tuesday indicates the easing monetary stimulus policy is poised to continue at least in the near term, The Wall Street Journal reports.
"Comments from the BOJ have been fairly neutral on the prospects for greater easing," currency strategist Brian Daingerfield with RBS Securities told The Wall Street Journal on Tuesday.
The yen climbed about 0.3 percent against the U.S. dollar on Wednesday after enduring drops of 0.5 percent on Monday and Tuesday. The yen increased about 0.4 percent against the common currency of the European Union on Wednesday.
Since Shinzo Abe took office in later 2012, Japan has embarked on aggressive monetary stimulus measures as part of an effort to spur the national economy's growth.
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