LONDON Feb 12 The yen fell slightly on Tuesday
after the Group of Seven industrialised countries reaffirmed
their commitment to market determined exchange rates, which
investors took as a green light to drive the Japanese currency
The dollar edged up to 94.21 yen from around 94.16
yen before the statement was issued.
The dollar had hit 94.465 yen, its highest since May 2010,
on Monday after U.S. Treasury Under-secretary for International
Affairs Lael Brainard said that the United States supports
Japanese efforts to end deflation.
The euro also edged higher to 126.03 yen from
around 125.85 yen before the statement. The euro has risen more
than 10 percent against the yen since the start of the year as a
new administration in Tokyo piled pressure on the Bank of Japan
to ease monetary policy aggressively.