On March 25, 2009, as reported at 3:42 p.m. (JST) in Tokyo, the Japanese Yen climbed against the Australian Dollar and the single currency Euro as the Asian currency got some relief after its fall the previous day, with investors in Japan selling foreign assets prior to their financial year-end at the conclusion of this month.
The U.S. Dollar was able to hold on to a lot of the gains made yesterday on profit-taking, given its fall last week, when the currency suffered its largest weekly drop in almost 25 years versus a group of six major currencies. According to one foreign exchange analyst in Japan, the increase in the Japanese Yen today is seen, in part, purely as a reversal of its steep fall over the past few days.
The Euro fell by 0.2% against the Japanese Yen and traded at 131.62 Yen, having retreated from 134.50 Yen, a 5-month high. The U.S. Dollar dropped by 0.2% against the Japanese Yen and traded at 97.60 Yen; up from 93.55 Yen, a month-long low. The Australian Dollar fell by 0.2% against the Japanese Yen and traded at 68.06 Yen.