The yen pared some of its losses Wednesday as a Japanese official doused speculation that Tokyo was mulling so-called helicopter money to boost growth.
Tokyo stocks soared again Tuesday to lead another Asia-wide markets rally fueled by hopes of fresh central bank stimulus and following last week's blockbuster U.S. jobs report.
The yen slumped Tuesday on expectations that Tokyo is drawing up a fresh round of huge stimulus to kick start the torpid Japanese economy.
The yen slumped on Monday, halting a four-day rally, as a landslide victory for Japan's ruling coalition in weekend elections boosted hopes for a government stimulus package.
The yen pushed higher against the dollar and euro Thursday while the pound recovered some of its losses as traders weighed the fallout of Britain's vote to leave the EU.
Japan was clobbered with a one-two punch Friday as weak data and a lackluster business confidence report underscored the slowdown dragging on the world's No. 3 economy.
Japan's mammoth public pension fund has suffered its biggest annual loss since the global financial crisis, an official said Friday, risking criticism of its move to a stocks-focused strategy.
The pound held steady Wednesday and demand for higher-yielding currencies picked up as traders considered a meeting of Japanese officials and the possibility of fresh stimulus to counter the impact of Britain's EU exit.
Japan's national pension fund, the world's biggest, said Thursday it is suing Toshiba over a profit-padding scandal that slashed the value of its stock, as its new boss pledged to overhaul the vast conglomerate.
Japan fell into a trade deficit in May, the first since January, the finance ministry said Monday, as renewed yen strength pressured exports.