The Japanese yen dove the most since the middle of last month on Tuesday against the world's reserve currency as Russia reportedly toned down military training in its western region, tugging down demand for assets considered safe-haven assets such as the yen, according to Bloomberg.
The monetary unit of the Pacific Rim nation dropped against all 16 major counterparts as the Russian ruble surged in value while stocks gained. The yen also dipped on Tuesday in the aftermath of Governor Haruhiko Kuroda with the Bank of Japan noting the nation is considering implementation of the carry trade.
"It certainly helps push up dollar-yen," strategist Jonathan Cavenagh with Westpac Banking Corp. in Singapore told the media outlet on Tuesday. "Verbal intervention is too strong a word, but I don't think the BOJ is all that comfortable with the very aggressive move lower in dollar-yen."
The Japanese yen edged down 0.3 percent against the greenback. The yen dropped about 0.4 percent against the shared currency of the European Union.
Russia is believed to be exerting effort to tone down tensions with Ukraine in the aftermath of Ukraine's leader being ousted last month, according to Reuters.
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