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Bloomberg reported that the yen traded at 115.71 per euro at 11:05 BST on Tuesday (May 10th), which halts a run of five days of gains for the currency.
Commenting on the forex trading pattern, Steven Barrow, head of group of ten currency research at Standard Bank, highlighted how the change will have been directly caused by the situation in Greece.
According to the Greek publication Kathimerini, the International Monetary Fund is putting together an aid package of between €80 million and €100 million for the troubled European nation.
The newswire quoted Mr Barrow as saying: "We've had quite a bit of weakness for some while in euro-yen and again that's probably just reversed a little bit with the Greek news."
On Monday, the ftse Eurofirst 300 fell 0.4 per cent as a result of fears that a larger aid package would be needed by Greece.
Posted by Clive Arneil
