2013.03.2806:35:46UTC+00Yen rushed as Kuroda repeats options; Euro advances against Dollar

The yen powered up versus all 16 of its major peers after Bank of Japan (8301) Governor Haruhiko Kuroda reinstated policy-easing alternatives, thrashing assumptions for novel measures to be shown as early as next week.

Kuroda told to upper house lawmakers today after announcing Japan’s lower house earlier this week he targets to hit a 2 percent yearly inflation goal in two years. The euro rise up versus the dollar after German retail sales surprisingly climbed in February. Cypriot banks reopen today for the first time in almost two weeks with new policies curbing access to cash after a bailout deal forced losses on some depositors.

“Kuroda’s been talking up more aggressive easing and stamping out deflation,” said Janu Chan, a Sydney-based economist at St. George Bank Ltd. “If the governor does what’s expected, we’ll probably see limited reaction. There’s probably more risk that the yen strengthens than weakens.”

The yen acquired 0.3 percent to 94.22 per dollar as of 8:14 a.m. London time. It was small movement at 120.64 per euro. The 17-nation currency bolster 0.2 percent to $1.2804, after yesterday reaching $1.2751, the bottom level since Nov. 21.