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At 09:34 local time in Tokyo the currency was trading at $1.4250, Bloomberg reports, while it was priced at 133.99 yen against its Japanese counterpart - news that may interest those carrying out Forex trading.
The rise came ahead of the publication of a new report which is expected to show that the contraction of the manufacturing and service sectors in Europe is easing.
Speaking to the news source, ICAP Australia senior economist Adam Carr said: "we are firmly on the path to recovery."
The euro, along with the Canadian and Australian dollars, are likely to benefit as the appetite for risk will "increase further" headded.
Currency strategist at HiFX Marc Cogliatti recently predicted that the pound will also benefit from an economic recovery, noting that it is likely to rise against a number of its foreign counterparts in the months to come.
