Yen Weakens vs. Majors

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No major news came from Japan yesterday to influence the Japanese Yen currency. The Yen was weaker against its major counterparts, in accordance with investors' selling safe haven currencies. Investors confident in EUR was lifted after Trichet announced the ECB would keep rates at 1%, and his re-assuring to buy bonds thus support the European countries with high debts if required.

Looking ahead, today there are no data releases by Japan. The Yen will continue to decline in case investors remain confident about the European economy and global recovery. The Yen would rise if fear take's over again. Fear about the economy may result by lower than expected data released later today, new rating downgrade for Europe or new warning about Europe growing Fiscal debts would also support the Japanese Yen.

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