LONDONSINGAPORE, March 1 Reuters The yen slipped against the dollar on Friday after Bank of Japan governor Kazuo Ueda said it was too soon to declare victory on pulling inflation up to a desired level.
Meanwhile, the dollar was little changed against other major currencies, bitcoin took a breather after surging last month, and China39;s yuan dipped after weak manufacturing data.
Against the yen , the dollar was up 0.39 at 150.54, after rising 6.3 in the first two months of the year. The moves put the Japanese currency close to its weakest levels since November and not far off the lowest since 1990.
Ueda said I don39;t think we are there yet when asked whether a sustainable 2 rate of inflation was in sight.
In contrast to most world economies39; recent battles with surging inflation, Japan is trying to boost price increases after years of anaemic demand.
Ueda39;s comments appeared to push back against a colleague39;s suggestion on Thursday that hinted at the need to exit ultraloose monetary policy, boosting the yen.
It39;s sort of a 39;good cop, bad cop39; thing going on in Japan at the moment, said Rob Carnell, ING39;s regional head of research for AsiaPacific.
I think the markets been getting excited again about the possibility of an April move … in the big scheme of things, does it really matter if it39;s April or June? As long as it39;s coming.
The dollar index , which measures the U.S. currency against six others, was little changed at 104.13. It rose 0.3…