The Yen completed yesterday's trading session with mixed results versus the other major currencies. The JPY was broadly unchanged versus the EUR yesterday and closed its trading session at around the 133.50 level. The JPY also saw bullishness against the USD and closed at 96.50.
The Yen rose and stocks slumped the most in more than two months on concern a global recovery may be delayed. While the Bank of Japan (BOJ) said earlier that the nation's worst post-war recession is easing, BOJ Governor Shirakawa said that the economy is improving because of three temporary factors: replacement of stockpiles at home and abroad, global fiscal stimulus measures, and improving confidence. It's unclear whether a recovery in demand will take hold.