The Japanese yen fell from the strongest level in two weeks versus the Dollar and tumbled against the EUR as signs the global economy is recovering boosted demand for riskier assets. Japan's currency was also softer across the board on a pick-up in demand for riskier assets on hopes of better earnings from U.S. companies.
The Yen traded at 93.25 per Dollar from 93.20 yesterday when it touched 92.58, the most since March 30. Japan's currency was at 127.21 per EUR from 126.88 yesterday. Traders said that improving risk appetite, buoyed by solid economic data and corporate profits encourage a fund allocation shift away from the Yen.