The yen rose on speculation exporters bought the currency, after its biggest slump in six months against the dollar, anticipating Japan's economic growth will outpace the U.S. this year. The yen gained against all of the 16 most-active currencies after a revised Japanese government report showed the gross domestic product grew faster than economists estimated in the fourth quarter. The euro strengthened against the dollar on speculation European Central Bank President Jean-Claude Trichet will warn of inflation risks today. The yen rose to 102.90 per dollar at 2:07 p.m. in Tokyo from 103.42 late in New York yesterday, when it fell 1.6 percent. Japan's currency climbed to 158.23 per euro compared with 158.61 yesterday. The euro rose to $1.5376 from $1.5338. The yen may accelerate gains should it climb beyond 102.70 against the dollar as some traders have left automatic buy orders there.

http://www.extocapital.com