Japan Says The G-20 Understands What It’s Doing Now – Yen Slides Toward 100 Against The Dollar

The Japanese yen is getting really close to 100 against the U.S. dollar.

It just hit a low of 99.67 against the U.S. dollar following comments from Bank of Japan governor Haruhiko Kuroda that the G-20 meeting today gave him confidence to continue easing.

Kuroda said he told the G-20 that Japan is engaged in monetary easing to achieve its new, 2% inflation target, that the G-20 understands that easing is needed in order to achieve price stability, and that it was good that Japan won this understanding from the G-20.

Below is a chart of the dollar-yen exchange rate today. The yen hasn’t seen 100 against the dollar since April 14, 2009.

dollar yen