The Japanese yen is getting really close to 100 against the U.S. dollar.
It just hit a low of 99.67 against the dollar following comments from Bank of Japan governor Haruhiko Kuroda that the G-20 meeting today gave him confidence to continue easing, but has since retreated to around 99.51. The dollar is up 1.4% today against the yen.
Kuroda said he told the G-20 that Japan is engaged in monetary easing to achieve its new, 2% inflation target, that the G-20 understands that easing is needed in order to achieve price stability, and that it was good that Japan won this understanding from the G-20.
Below is a chart of the dollar-yen exchange rate today. The yen hasn't seen 100 against the dollar since April 14, 2009.
More From Business Insider
- Eerie Photos Of Boston Looking Like A Ghost Town
- Live Suspect Is A 19-Year-Old College Student Named Dzhokhar Tsarnaev
- The Weekend Is Over, And Japan Is Falling
- Bank of Japan