Exchange rates for the Japanese yen have declined against the euro, Australian dollar and South Korean won as improved confidence limits demand for the safe haven currencies. Stock markets around the world have gained ground following a speech from Ben Bernanke in which he noted that growth prospects "appear good" sending the MSCI world share index rose by 0.6%.

In combination with news that Thailand has emerged from recession, this reduced demand for the yen as a safe haven and the Japanese currency declined against its major currency partners. News that home sales rose in the US for the fifth consecutive month also drove the rise in risk appetite.

Currency exchange rates for the Japanese yen are currently valued at 135.74 per euro and 94.80 per US dollar.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.