The yen rose for the first time in three days against the dollar and euro as a decline in Asian stocks prompted investors to pare holdings of higher-yielding assets funded in Japan.
Japan's currency also gained against the South African rand and New Zealand dollar, two favorites for so-called carry trades.
“The yen is being buoyed by risk reduction among investors, as stocks are performing poorly,” said Joseph Kraft at Dresdner Kleinwort.
EUR/USD rose from $1.5660 to
$1.5740.
GBP/USD strengthened from $1.9730 to $1.9815.
USD/JPY fell from Y104.30 to Y103.90.
Today’s focus on US Durable goods orders at 12:30 GMT. At 15:45 GMT Germany CPI report is schedule to come.