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As a result, the greenback gained against the Japanese currency, though safe haven bids saw it retreat versus others, reports Reuters.
The dollar is set to gain eight per cent against the yen for the first three months of the year, while the single European currency is on course to rise by two per cent.
Toru Umemoto, chief Forex strategist for Japan at Barclays Capital, told the news source: "It can be said that a reverse correlation between the yen and stocks appears to be returning."
In related news, Japan's unemployment rate has risen to its highest level for three years, new figures have shown.
The government confirmed that the number of people out of work increased from 4.1 per cent to 4.4 per cent.
