As the USD has made some gains and has had a bid tone basically since the market open, the JPY has had an opposite fate. The JPY has been weak across the board, seeing over 100 PIP moves against it. Some comments out of Japan have contributed to these moves:

BOJ REPORT ON REGIONAL ECONOMIES: BOJ CUTS VIEW OF ALL REGIONS OF ECONOMY, EXCEPT FOR TOHOKU
- Says economy slowing as a whole in Japan
- Capex slowing in many regions
- All regions cut private spending view

JAPAN MOF SUGIMOTO SAYS WILL CAREFULLY OBSERVE FX MARKETS
- Sees global inflationary pressures rising
- Expects global economy to slow