The Yen continued its rise against the EUR Tuesday as concerns over Greece's rescue package dampened demand for the common currency and boosted demand for the safety of the Japanese currency. The Yen rose to 125.36 per EUR in today's Asian trading from 125.67 yesterday; however, it stayed relatively unchanged against the Dollar at 93.70 per Dollar from 93.79 yesterday.
The Australian Dollar rose 0.8% to 92.78 U.S. cents Tuesday after the Reserve Bank of Australia hiked its key interest rate a quarter of a percentage point, to 4.25%, as expected by most economists.
The BOJ Press Conference and Overnight Call Rate are expected today. While the interest rate is expected to remain unchanged, the press conference is expected to provide direction for the JPY for the day as well as the rest of the week.