The Japanese yen marked advances on Tuesday against the world's reserve currency after the nation's central bank decided to leave economy-spurring stimulus measures unchanged, according to Bloomberg.
The yen rose for a third-straight day against the U.S. dollar while also pushing higher against 12 of 16 of its top rival monetary units. Haruhiko Kuroda, governor of the Bank of Japan, said the labor market of the globe's third-largest economy developed more than projected. The U.S. Federal Reserve is slated to release policy meeting minutes from last month on Wednesday, which are likely to influence the performance of the yen.
"There was speculation that the yen would strengthen as the BOJ might disappoint markets," manager of currency products Akira Moroga with Aozora Bank Ltd. in Tokyo told the news outlet on Tuesday.
The Japanese yen rose roughly 0.3 percent against the dollar during the Tuesday trade session and pushed to its top value against the greenback since March 28.
Even prior to the BOJ policy decision the yen had been on the rise, Reuters reports. That climb was augmented when Kuroda said the economy of Japan was pushing higher.
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