The yen remained hunkered just below the psychologically important barrier of 145 per U.S. dollar on Monday, while the dollar was on the back foot after U.S. economic data last week showed slightly easing inflation and consumer spending.
The yen weakened 0.03% to 144.38 per dollar in early Asian hours to kick start the second half of the year having dropped 9% against the dollar in the first six months of the year.
Finance Minister Shunichi Suzuki on Friday said Japan would take appropriate steps in response to excessive yen weakening, in the latest comment from government ministers and officials. Japan bought yen in September, its first foray in the market to boost its currency since 1998, after a Bank of Japan decision to maintain ultra-loose policy drove the yen as low as 145 per dollar.Still, business sentimentin the second quarter as easing supply constraints and the removal of pandemic curbs lifted factory output and consumption, a central bank survey showed, a sign the economy was on course for a steady recovery.
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