The yen continued appreciation against the dollar, after oil dropped to 5-year lows this week. The Japanese currency is not supported against most world currencies against the additional incentives that the Bank of Japan take in search of the optimal level of inflation. The yen traded at $ 119.46 after yesterday it rose by 1% against the US dollar. The euro against the Japanese currency made slight increase from 145.28 to 145.25
Australian dollar and New Zealand kiwi rose after better data for PMI index in China, although it remains below the 50.0 points. Australian currency rose by 0.4% to 82.06 dollar cents and New Zealand dollar added 0.2 percent to 78.43 dollar cents.
This year euro notes biggest drop against the US dollar since 2005 after the European Central Bank announced it would begin quantitative easing by buying government bonds, but in recent days the crisis in Greece failed to vote for president further weakened the single currency. The next meeting of the ECB will be on 22 January when the bank is expected formally to set future incentives will be targeted at economic stabilization and increase in inflation to the desired 2%