Gracing the trade of the Asian session were several statements from Bank of Japan (BOJ) Governor Haruhiko Kurida and Finance Minister Shunichi Suzuki regarding the movement of the yen.
Governor Kuroda said that he had discussed currency market movements during his meeting with Prime Minister Fumio Kishida.
It is a regular meeting held by both parties to discuss economic and financial matters extensively.
After the meeting, Kuroda told reporters that the yen's rapid movement was undesirable, reiterating that policymakers would continue to closely monitor market developments.
The statement came after Finance Minister Shu'nichi Suzuki said that the government would not rule out any option to act on the movement of the yen.
All in all, there is nothing new from Japanese policy makers who seem to still want to 'wait and see'.
Even so, the yen recovered again by rising higher following the statement, in addition to benefiting from the weak US dollar.
In other developments, PM Kishida ordered a new stimulus package to be drawn up in October to help the economy weather the effects of inflation.
The government will consider a supplementary budget to finance additional stimulus in the autumn, including efforts to promote new forms of capitalism.
