The Japanese Yen has fallen to its lowest level against the US dollar in the international currency markets on Friday following strong steps by the Japanese authorities to boost the economic growth in the world's third largest economy.
Strong jobs data in the US addressed concerns that the US economy might be slipping back to recession. The Japanese currency fell to 101.20 against the US dollar at a time when the finance ministers and central banker chiefs of G7 countries gathered for a two-day meeting near London. Many expect the currency fluctuation to be a part of the agenda at the gathering.
The Japanese Yen crossed the symbolic 100 yen to the dollar level when weekly U. S. jobless claims fell to five-year low on Thursday. Japan's Ministry of Finance confirmed on Friday that the domestic investors have become net buyers of foreign bonds in a period of two weeks.
The Japanese currency has fallen to new low levels against the dollar following the announcement of more stimulus measures from the Bank of Japan, which will help exporters and boosts repatriated earnings. The BOJ said in the Japanese capital that it will purchase 7 trillion yen or $74 billion of bonds every month. He is aiming to reach 2 per cent inflation in two years as part of the plan to reverse the trend of falling prices in more than 15 years in the world's third largest economy.