Yen moves higher in currency tradingThe yen is moving higher in currency trading on the [B]FX market [/B]today, driven by remarks from Japanese Finance Minister Fujii. There had been expectations that economic data coming out of the U.S. would help the [B]USD/JPY[/B] currency pair, but Fujii’s ill-timed and insensitive remarks continue to encourage yen volatility and dollar weakness.
Indeed, Fujii has been making a lot of mistakes lately with regard to comments on the forex market. GFT’s [B]Boris Schlossberg[/B] reports on Fujii’s most recent remarks and their implications:
Mr. Fujii stated that, “The United States is caught in a dilemma. [B]You can’t deny that the current yen rise was caused by a weak dollar[/B]." His remarks sent USD/JPY& 
to 90.10 in a knee jerk reaction as traders once again interpreted Mr. Fujii’s words as an open invitation to push the pair lower. Although Mr. Fujii was simply reiterating the obvious, [B]his leaden ear to the sensitivity of the market continues to create volatility for the yen[/B].
[B]See Also[/B]
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[li]Learn About Forex Market Trends[/li]Currency trading on the FX market
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