Japanese yen rises after Kuroda's remarks

The Japanese yen rose against the US dollar on Tuesday, following Bank of Japan Governor Haruhiko Kuroda's remarks about the monetary stimulus program.

Kuroda hinted that the BoJ may begin to gradually end the quantitative easing program staring from its BOJ’s two-day rate review on Friday. 

Kuroda emphasized that the real borrowing costs remain cheap due to aggressive monetary easing, which is a milestone for this huge program during Kuroda's term of leading the BoJ.

Data showed today that the Japanese industrial production index rose 4.3% during February, beating forecasts of 4.2%.

USD/JPY fell 0.1% to 108.9, and hit a high of 109.2 and a low of 108.7.