The Japanese yen dipped in value on Wednesday against the world's reserve currency, according to Bloomberg.
Currency volatility dropped and European stocks climbed, spurring investors to devote attention and resources toward higher-yielding assets. The yen fell against 15 of 16 of its major rivals and is likely to be impacted by the release of minutes from last month's meeting of the Federal Open Market Committee, the policy-making arm of the U.S. Federal Reserve.
"Today's focus will be on minutes from March FOMC and speeches by officials from both Fed and ECB as they are likely to provide the market with more hints on the monetary policy of the major central banks going forward," Credit Agricole said on Wednesday, according to Agence France-Presse.
The yen dropped about 0.2 percent against both the U.S. dollar and the common currency of the European Union. Its gains on Tuesday against the euro climbed as high as 0.9 percent.
Haruhiko Kuroda, president of the Bank of Japan, said on Tuesday that the economy of Japan is making a healthy recovery, Agence France-Presse reports.
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