The Japanese Yen experienced mixed results yesterday against its primary currency rivals. As of today's early Asian trading hours, the USD/JPY pair has begun a minor descent and currently trades at 92.83, with what appears to be further sell pressure being applied. No doubt the financial troubles currently rocking Europe are leading to a rise in risk aversion which is helping to prop up the safe-haven Dollar and Yen.
In other news, however, the JPY is in fact gaining ground economically with all news emanating from the island economy beating forecasts. With recent declines in Europe, positive data, and a risk averse economic environment, it appears the JPY may be on course to continue gaining throughout the trading day. That is, unless the figures coming out of Britain and the Euro-Zone reverse the fortunes of the region and boost risk appetite.