The yen's recent sharp depreciation against the U.S. dollar "does not mean market confidence in the Japanese currency has been lost," Bank of Japan Governor Haruhiko Kuroda said Friday. A strong U.S. economy and rising Treasury yields have lifted the dollar against the yen, with demand for the dollar also strong among Japanese importers for settlement purposes, Kuroda told a parliamentary session after the U.S. currency rose to 122.41 yen overnight, its highest level in over six years. Market analysts say the yen has been falling amid the prospect of a divergence in monetary policy between the...
