The Japanese yen fell to its lowest level against the United States dollar since 1990 on Wednesday after the latest US inflation data and amid an increasing number of statements from the Bank of Japan (BoJ) regarding movements in the foreign exchange (FX) market.
The decline followed BoJ Governor Kazuo Ueda saying earlier on Wednesday that the bank won't change its monetary policy "just to deal directly" with movements in the FX market, noting, however, that the bank might consider the option if "FX moves lead not just to rising import prices, but risk pushing up trend inflation more than expected." Additionally, the country's Finance Minister Shunichi Suzuki emphasized on Tuesday that excess FX volatility is "undesirable."
The dollar traded flat against the yen, going for ¥153.1405 at 5:08 pm ET.
