Japanese yen back to losses versus major currencies before the upcoming board meeting of the Bank of Japan, where the yen tried earlier to incline after the economy minister’s speech.

Moreover, Japanese economy minister Akira Amari warns from further decline in the yen, adding that further slide in the yen may leave negative impact after the recent 21% drop during the previous six months.

USD/JPY pair traded today near 102.50 after recording high of 102.75, while the EUR/JPY pair inclined to 132.29. GBP/JPY pair inclined to 156.50.

Australian dollar continue to incline versus dollar and other currencies in attempts to compensate its previous huge loses, while RBA released today its May’s meeting minutes which saw rate reduction to 2.75%.

AUD/USD pair inclined to 0.9831 after starting the week’s session at 0.9756, while the NZD/USD pair inclined to 0.8203 after starting this week at 0.8099.

Japanese All Industry Activity Index fell to a seasonally adjusted -0.3% in April, quite the blow from 0.6% a reading earlier but slightly better than expectations of a -0.4% decrease.

The Reserve Bank of  New Zealand released its two-year inflation expectation, giving a 2.1% figure  for the second quarter of the year, down from  2.2% set up previously.

The Reserve Bank of Australia released minutes of the May meeting, revealing expectations Australia would witniess lower levels of GDP in 2013.

The RBA added that moderate inflation and growth rates leave the room for policy makers to reduce the nation’s benchmark interest rate, as the bank noted that previous reduction in interest rate still affect on the nation’s economy.

The central bank noted that the May 7 reduction is suitable for the current economic environment which could help the nation’s growth pace.