Kuroda says the Bank of Japan has done all that's necessary

(Source: Yahoo! Finance)

Yen has moved up against the dollar to the morning's levels following a statement by Bank of Japan governor Haruhiko Kuroda. He said that the pledges already announced contained all the steps necessary to achieve the Bank's two per cent inflation target and that policy will not change. Kuroda remains confident that side-effects of the policy are not a concern. The governor said that he will scrutinise policy effects each month, but this will not mean that monthly alterations to policy will be made.

This statement reversed moves this morning after UBS made negative comments about Yen and statements from North Korea saw the Yen depreciate.