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It gained 0.2 per cent to 79.78 against the Australian dollar this morning and accrued 0.1 per cent to stand at 104.12 per euro, reports Bloomberg.
This came as the benchmark MSCI Asia Pacific Index of shares dropped 0.6 per cent.
Fears of an economic slowdown in the area have been heightened by the eurozone's financial problems, with the European Central Bank holding a meeting in Brussels to discuss the sovereign debt crisis.
Reuters reported yesterday that the FTSE 100 had seen gains of 60.44 points after positive news from the summit, but investors remains cautious.
Junichi Ishikawa, an analyst in Tokyo at IG Markets Securities, told the news provider the market is "inclining towards risk aversion", an environment in which more people are likely to trade in the relative security of the yen and the dollar.
Posted by Greg Secker
