The Euro is responding to stabilization in the Euro Zone region as investor confidence about prospects in the region is clearly improving.
The European Commission is expected to announce today that its index of consumer confidence improved to minus 23.2 in February from minus 23.9 in January.
The European Commission is expected to announce today that its index of consumer confidence improved to minus 23.2 in February from minus 23.9 in January.
This follows data released on Tuesday that showed that investor confidence in the region's biggest economy, Germany, has jumped to a three-year high.
The Euro rose 0.2% to $1.3414.
The Yen in contrast dropped as much as 0.3% to 93.33 per Dollar and was little changed at 125.21 per Euro.
Japan's Prime Minister, Shinzo Abe, said earlier today that it has become less necessary for Japan to purchase foreign debt. In his election campaign in 2012, his party proposed a joint fund operated by the Bank of Japan (BOJ), the Ministry of Finance and private investors that would purchase foreign bonds as a means to end deflation and curb the Yen's strength.
The Euro rose 0.2% to $1.3414.
The Yen in contrast dropped as much as 0.3% to 93.33 per Dollar and was little changed at 125.21 per Euro.
Japan's Prime Minister, Shinzo Abe, said earlier today that it has become less necessary for Japan to purchase foreign debt. In his election campaign in 2012, his party proposed a joint fund operated by the Bank of Japan (BOJ), the Ministry of Finance and private investors that would purchase foreign bonds as a means to end deflation and curb the Yen's strength.
In January Japan posted a trade deficit of 1.63 trillion Yen ($17.4 billion), the biggest shortfall on record dating back 63 years.
The Yen has weakened 15% in the past three months and looks set to continue a decline in the short term.
The Yen has weakened 15% in the past three months and looks set to continue a decline in the short term.
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