April 19, 2013 / 6:36 PM / 5 years ago

U.S. dollar at session high vs yen on officials' comments to G20

NEW YORK, April 19 (Reuters) - 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.

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