The yen slipped Monday on speculation Tokyo will postpone a sales tax rise to avoid denting Japan's already fragile economy, while a lackluster string of Chinese data took a bite out of emerging currencies
The yen edged higher Friday even as the Bank of Japan's chief repeated a pledge that he was ready to unleash more stimulus measures to boost the sagging economy.
The yen weakened Tuesday as Japanese officials ramped up a bid to tame the surging currency, while the Philippine peso ticked higher with anti-establishment firebrand Rodrigo Duterte set to become the country's new president.
The yen slipped Monday as Tokyo officials kept up their war of words in a bid to tame the surging currency, while the U.S. dollar won support as weak U.S. jobs data failed to extinguish hopes for rate hikes this year.
Japan's foreign minister announced a US$7 billion initiative Monday to promote development in Southeast Asia's Mekong region, which encompasses parts of Vietnam, Laos and Thailand through which the river flows.
Tokyo stocks plunged more than three percent as a surging yen hit exporters Monday, leading a sell-off across Asia in holiday-thinned trade and after worries about the global economy fuelled sharp losses in New York and Europe.
The yen's soaring rally took a breather in Asian trading Monday after Japanese finance minister Taro Aso warned over the surge, vowing to take action "when necessary."
The Bank of Japan shocked markets Thursday as it held fire on a fresh round of widely expected stimulus measures, sparking questions about whether it had anything left in its arsenal to kickstart the stuttering economy.
The yen rebounded Monday, with analysts saying last week's dive on a report that the Bank of Japan was considering new stimulus was overdone.
The yen sank Friday on a report that Japan's central bank may take steps to support major financial institutions hit by its shock negative-rate policy.