The yen climbed on Monday on news that the Japanese government is set to revise a joint statement with the Bank of Japan (BOJ) over the latter's inflation target, potentially paving the way for a tweak in the BOJ's ultra-loose monetary policy.
The yen was last 0.6% stronger at 135.91 per dollar, after having touched a high of 135.80 earlier in the session.
The current statement commits the BOJ to achieving its inflation target "at the earliest date possible", and the BOJ has steadfastly stuck to its dovish monetary policy. That stance and the resulting interest rate differentials with the rest of the world has caused the yen to plunge more than 15% this year.
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