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Yen Gains as Politicians Divided About BoJ Leadership

March 13, 2013 at 12:15 by Vladimir Vyun

The Japanese yen advanced today on signs that nation’s politicians are divided about leadership of the central bank, raising speculations that additional stimulus may be postponed.

Some opposition parties voted against deputy governor nominee Kikuo Iwata. Others were against the nomination of Haruhiko Kuroda as the Bank of Japan Governor. The division about the future leadership of the central bank means that the additional accommodative measures will likely be implemented later rather than sooner.

USD/JPY fell from 96.06 to 95.77 and EUR/JPY went down from 125.20 to 124.60 as of 12:15 GMT today.

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