NEW YORK, April 19 The U.S. dollar extended its
gains on the yen after Japanese officials in Washington said on
Friday the global community understands its monetary policy is
directed at domestic issues rather than currency manipulation.
In New York afternoon trade, the greenback hit a fresh
session high of 99.68 yen, up 1.55 percent and its
highest level in a week. The euro also rallied against the yen,
rising to a session high 130.24 yen, up 1.65 percent.
Japan's Finance Minister Taro Aso and Bank of Japan Governor
Haruhiko Kuroda said the international community has understood
its aggressive monetary easing policies are domestic focused and
it remains committed to the Group of 20's communique reiterating
a refrain from competitive devaluation.
"It appears with Kuroda's and Aso's comments and the G20's
acceptance of their explanation on monetary policy that the path
is clear for the BOJ to both continue easing or enact additional
easing measure if needed. This is leading to the late day
sell-off in the yen," said Brian Daingerfield, currency
strategist, at RBS Securities in Stamford, Connecticut.