Yesterday (12th March), the Yen was performing badly and the weakness continued to be observed on 13th. This is mainly due to the political scandal surrounding Prime Minister’s Abe’s government. The Yen weakened by 0.3 and 0.5 percent against the major currencies after the Ministry of Finance said officials at the ministry had illegally altered some documents relating to the sale of a state-owned land.
The Bank of Japan (BoJ) was scheduled to release meeting minutes later tonight from the bank’s March rate decision. Already, the JPY has shown signs of weakness.