FXstreet.com (California) - Japan?s next Prime Minister Yoshihiko Noda weakened the yen slightly after saying prudent fiscal management is needed, and that he will announce an outline for anti-yen steps once a new government is formed.

"I am aware of the problems of the strong yen and deflation. But at the same time, we need to maintain fiscal discipline," Noda said at a news conference.

USD/JPY rose to 76.95 from 76.85, but has returned to opening levels, now quoted back in the 76.85 price zone. EUR/JPY climbed into the 111.65 area from 111.48 upon headline, but is now priced at 111.57, 10 pips above its opening price.