BOJ still sees weak Yen as beneficial for the economy

FXStreet (Mumbai) - The Bank of Japan (BOJ) was on the wires on Friday stating that the policy makers still believe that a weak Yen could yield benefits for the economy.

Reuters reported, the BOJ is comfortable with the Yen fall so long as the pace of decline is moderate. BOJ sources say governor Kuroda did not intend to influence the exchange rate with his June comment that the real effective rate was "already very low".

Kuroda’s comments in June had led to a sudden spike in the Japanese Yen, but the rising rate hike expectations in the US ensured the gains were quickly erased.