The Japanese Yen saw a bearish trading session yesterday, losing ground against most of its currency crosses, as a rise in most Asian and European stock prices reduced demand for currencies perceived as safe havens. The JPY fell against the EUR and closed at 1.3470, while the USD/JPY cross rose to around 89.80.

In addition, Japan's Core Machinery Orders, a key indicator that shows capital investment in the industrial sector, increased at a faster pace in September. Data released by the Cabinet Office showed that Core Machinery Orders rose a seasonally adjusted 10.5% in September, much faster than the 0.5% increase in the previous month, but it failed to provide strength to the Yen, as investors may be waiting for key data due to be released today to implement their trading strategies.