Japanese Yen rises as Japan urges pension funds to invest in domestic assets
The post Japanese Yen rises as Japan urges pension funds to invest in domestic assets appeared on BitcoinEthereumNews.com. The USD/JPY pair tumbles to around 161.50 during the early European trading hours on Friday. The Japanese Yen (JPY) edges higher against the US Dollar (USD) after the reports that Japan plans to encourage pension funds to increase their holdings of domestic financial assets. Japan’s Finance Minister Satsuki Katayama said that the government is pursuing measures that would include the Government Pension Investment Fund (GPIF) to make “substantially greater investments in Japanese financial assets,” per Reuters. Analysts said this move could offer greater support to the battered currency than intervention. Traders reduce their bets of a rate hike from the US Federal Reserve (Fed) this year, weighing on the Greenback against the JPY. New York Fed President John Williams said on Thursday that despite the resumption of hostilities in the Middle East, he was not looking