2013.04.0502:37:45UTC+00Yen continues to drop on Japan's monetary easing

The Japanese yen shrink on Friday trading action, lengthening sharp declines sparked in the previous session after the Bank of Japan initiates an aggressive monetary-easing program targeting to end the years of deflation.

The U.S. dollar purchased 96.78 Japanese yen in Asian morning action, up from ¥96.16 in North American trade late Thursday and far above its ¥92.89 level just ahead of the Bank of Japan’s policy declaration.

The yen had lose more than 3% versus the greenback on Thursday as the dollar soared after Japan’s central bank announced it will pump some $1.4 trillion into the world’s third-biggest economy, with the plan to include boosting purchases of Japanese government bonds to a yearly pace of about ¥50 trillion ($530 billion).

The two-year easing campaign was introduced by newly seated Bank of Japan Gov. Haruhiko Kuroda, who had committed to do “whatever it takes” to meet a 2% consumer-inflation goal.

The yen also lost further ground versus the euro Friday, with the European currency fetching ¥125.06. The euro surged more than 4% versus the yen Thursday.

As the yen remained under pressure, Japanese stocks boosted higher on Friday. The Nikkei Stock Average shot up more than 4% during the first few minutes of the open, with shares of exporters tacking on hefty acquisitions.

U.S. equities also closed higher Thursday as the Bank of Japan’s declaration aid the market push past a rise in weekly U.S. jobless claims to a four-month high.

Next up for currency and equity investors worldwide is the release of the most awaited U.S. unemployment report later Friday.

Meanwhile, the ICE dollar index, which measures the greenback versus a basket of six major rivals, advanced to 82.796 from late Thursday’s 82.637 ahead of the jobs numbers, while the WSJ Dollar Index, which uses a slightly bigger comparison basket, jumped to 73.72 from 73.53.

Among other major currency pairs, the euro appreciated to $1.2930 from $1.2946, and the British pound shrink to $1.5226 from $1.5244 after both European units advanced last Thursday.