The Yen rose against the EUR amid renewed concerns regarding Europe's debt crisis, boosting demand for Japan's currency as a refuge. The JPY strengthened against all 16 major counterparts on speculation possible tightening of regulation on financial markets by EU leaders will hamper recovery in the region.
The EUR's decline was bolstered by the Bank of Spain's announcement that it plans to publish the results of stress tests carried out on the nation's lenders.
Japan's currency climbed to 112.06 per EUR in Asian trading today from 112.57 in New York yesterday, when it touched 113.32, the lowest level since June 4. It is currently at 91.29 per USD from 91.44 yesterday.