Since the start of June, there have been several comments by government officials that could be construed as calls on the Bank of Japan to relax its monetary policy.

Finance Minister Masajuro Shiokawa said he believes the BOJ may be considering some form of action, fueling the monetary-easing hopes of Taku Yamasaki, secretary general of the Liberal Democratic Party.

Some believe this remark, which implies support for a further easing of BOJ monetary policy, seeks to weaken the yen. But is this the case?