Yen continued reprieve against most other major currencies amid signs that show the U.S. economy started stabilizing so weakened demand for asset protection.
The Japanese currency also maintains a reprieve against the euro yesterday ahead of today’s release of data expected to show rising U.S. consumer confidence to its highest level since May. Reports yesterday also showed the U.S. unemployment filings fall to its lowest level since February 2008.
The yen traded at 78.38 per dollar in Tokyo from 78.34 yen yesterday. Against the euro, the yen was at 101.33 per euro. After falling 0.6% to 101.27 yen in New York. Euro slightly corrected at $ 1.2929 and is expected to still be down 0.9% this week.