Yen falls to record low
The Japanese yen has fallen to a record low against the euro.
This morning the euro bought 154.681 yen, the dollar stood at 0.7554 to the euro and sterling bought 1.9598 US dollars.
"Investors have stayed away from exporters, but they are buying Toyota and other stocks on a recent softer yen, in addition to improving market sentiment," Zenshiro Mizuno, senior managing director of Marusan Securities' equity trading division, told Reuters.
The news of the weak yen boosted Japanese exporters such as Honda, pushing the Nikkei share index to a seven week high.
In the US the Federal Reserve will today announce its interest rate decision, widely tipped to be a decision to do nothing, and leave rates at 5.25 per cent.
"I suspect the Fed is on virtual permanent hold," Gregory Miller, chief economist at SunTrust Banks told Associated Press.
"I don't think the Fed is going to change its mind about the current economic outlook until the data makes it very clear that the trends have turned. That underlying trends are moving in one direction or the other
- getting better or getting worse."