Yen weakens in Asia

TOKYO, Apr 16 (AFP): The yen weakened in Asia on Wednesday as the head of the Bank of Japan said the country was on target to meet its inflation target next year while buoyant equity markets lifted investor sentiment.
In Tokyo afternoon trading, the greenback fetched 102.19 yen, up from 101.94 yen on Tuesday in New York, as traders moved out of the Japanese unit which is seen as a safe haven during times of turmoil and uncertainty.
The euro also rose to 141.27 yen from 140.80 yen, while the single currency fetched $1.3824 against $1.3813 in US trade.
Helping boost sentiment was Chinese economic growth figures for the first three months of the year that came in slightly above forecasts.
China's National Bureau of Statistics (NBS) said the world's number two economy expanded 7.4 per cent year on year in January-March.