Tokyo stocks climbed for the third straight session Friday on hopes of extra central bank stimulus measures after figures showed monthly prices falling and press reports said the government would delay a sales tax hike.
The yen surged on Thursday, taking some of the wind out of the sails of the recently buoyant dollar and prompting investors to cover positions against a backdrop of potential event risks, including a speech by Federal Reserve chief Janet Yellen.
In the corporate bond market, Toyota issued 40 billion yen of 10-year bonds with a yield of 0.090 percent, the lowest ever for a corporate issue, and 20 billion yen of 20-year bonds yielding 0.343 percent.
Some market participants mentioned an interview with Masatsugu Asakawa, Japan's vice-minister of finance for global affairs, who told the Financial Times that direct currency intervention will remain in the ministry's toolbox.
The BOJ stunned markets in January by adding negative interest rates to its massive asset-buying programme in a fresh effort to accelerate inflation to its 2 percent target.
The yen was stronger against its rivals during Asia trade Thursday, as a sudden, sharp decline in the dollar pushed up the Japanese currency.
The uncertainty of a Japanese tax increase has made investors anxious.
Dodgers send Urias back to minors after debut
The Mets were not only unsuccessful in hitting Utley, they couldn't stop him from crushing the bullpen for a pair of homers. The full-diamond moon shot was Utley's sixth grand slam of his career as the 37-year-old recorded his 22 multi-homer game.
Brent crude LCOc1 was down 0.8 percent at $49.21 a barrel after surging to as high as $50.51 on Thursday. The Topix stock index rose 0.5 percent.
The commitment by the G7 Friday follows a push on the sidelines of a separate G7 finance ministers' meeting last week from US Treasury Secretary Jacob Lew, who kept up the pressure on Japan not to devalue its currency.
In relatively illiquid conditions in the first minutes of trading in Tokyo, a large order drove the yen more than half a percent higher against the dollar, undoing the bulk of this week's gains for the USA currency.
The dollar briefly drew buying after news reports that Japanese Prime Minister Shinzo Abe plans to postpone the scheduled consumption tax increase in April 2017, but the USA currency came under selling shortly. The yen has been volatile of late, particularly around the timing of Japan's sales tax increase.
The greenback had rallied earlier in the week on the growing expectation the Federal Reserve will raise interest rates as soon as June or July, supported by a series of comments from Fed officials seemingly backing such a move. Minutes released Sunday from the Fed's April policy meeting and comments by several policymakers hinted strongly that a hike could be forthcoming.
The dollar index fell 0.2 percent to 95.173.DXY, moving away from a two-month high of 95.661 notched in the previous session. The euro was steady at $1.1139, within reach of $1.1133, its lowest level since March 18 plumbed on Tuesday when it sank 0.7 percent.
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