Yen weaker in Asia after BOJ approvals
AFP and APTOKYO--The yen weakened in Asia on Friday after Japan's parliament approved a new management team for the central bank, which is expected to launch aggressive easing aimed at fixing the limp economy.
March 16, 2013, 12:06 am TWN
The upper house gave the green light to Haruhiko Kuroda as Bank of Japan (BOJ) governor, a nod that would tend to put downward pressure on the yen as markets bet on more policy measures from the new-look central bank.
The currency has been sliding for months, with Friday's widely expected vote coming as Tokyo demands more policy action to stoke the economy.
In Tokyo afternoon trade, the dollar fetched 96.14 yen, from 96.08 yen in New York Thursday afternoon.
The euro also firmed to 125.23 yen from 124.91 yen, while it bought US$1.3019, up from US$1.3000 in New York.
The dollar was mixed against other Asia-Pacific currencies.