The Japanese yen has been declining this week against most of its currency rivals due to a variety of forces. Among these influences is a recent move into riskier assets, as well as an unwinding of JPY long positions. The yen is dropping towards a 1-month low against the US dollar, reaching towards 83.35 in today's early Asian sessions.

With Japanese banks on holiday Friday, in observance of National Foundation Day, the yen is going to be absent from today's market moving events. The driving force behind today's market will likely be the United States as investors appear to be preparing their portfolios in anticipation of the significant release of the UoM consumer sentiment figure. Should the greenback continue climbing, it will likely do so strongly against the yen in light of recent market trends.