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The yen showed muted trading against its major counterparts in the Asian session on Friday, after the Bank of Japan kept its monetary stimulus unchanged, as widely expected.

Governor Haruhiko Kuroda and his board members decided by an 8-1 majority vote to hold its target of raising the amount of outstanding JGB holdings at an annual pace of about JPY 80 trillion.

The bank will purchase government bonds so that the yield of 10-year JGBs will remain at around zero percent.

The board also decided to maintain the -0.1 percent interest rate on current accounts that financial institutions maintain at the bank.

With regard to outlook, Japan's economy is likely to continue its moderate expansion.

In economic front, data from the Bank of Japan showed that Japan's M2 money stock rose 3.3 percent on year in February, coming in at 987.4 trillion yen.

That was in line with expectations and down from 3.4 percent in January.

Early in the session, the yen dropped against its major counterparts amid risk appetite, as Asian shares rallied after U.S. President Donald Trump agreed to meet North Korean leader Kim Jong Un by May, after Pyongyang offered to suspend nuclear and missile tests.

The yen dropped to an 8-day low of 106.94 against the greenback and moved sideways thereafter. The pair closed yesterday's deals at 106.19.

The yen weakened to 131.59 against the euro and 112.25 against the franc, from its early highs of 130.67 and 111.55, respectively. Thereafter, the currency held steady. The yen closed Thursday's trading at 130.73 against the euro and 111.62 against the franc.

The yen reached as low as 147.54 against the pound before holding steady thereafter. The yen ended Thursday's trading at 146.62.

The yen slipped to an 8-day low of 82.92 against the loonie, 3-day lows of 83.24 against the aussie and 77.61 against the kiwi, from its early highs of 82.30, 82.64 and 77.04, respectively. The yen was worth 82.33 against the loonie, 82.70 against the aussie and 77.10 against the kiwi at yesterday's close.

Looking ahead, German trade data and industrial production for January are due in the pre-European session.

In the European session, U.K. trade data, industrial production and construction output for January are scheduled for release.

In the New York session, U.S. and Canadian jobs data for February and U.S. final wholesale inventories for January are set for release.