Yen suffers losses after Treasury official comment

The Japanese currency got hammered on Monday after the latest round of selloff caused it to tumble against the dollar and euro. The yen’s losses snowballed after the U.S. Treasury reconfirmed its support for monetary stimulus in Japan, which markets took as a cue for abandoning the yen, reports FT. Japan’s perusing a policy of […]

By Staff | February 12, 2013 | Last updated on February 12, 2013

1 min read

The Japanese currency got hammered on Monday after the latest round of selloff caused it to tumble against the dollar and euro.

The yen’s losses snowballed after the U.S. Treasury reconfirmed its support for monetary stimulus in Japan, which markets took as a cue for abandoning the yen, reports FT.

Japan’s perusing a policy of aggressive monetary easing in efforts to fight deflation and spur economic growth, the yen’s depreciation against the dollar being an unintended consequence of it.