In the wake of the recovery set in the global economy, Yen was reported to have gained against the Euro, this week.

Yen gained consecutively for over three days. With this rampant rising trend in the Japanese currency, industry analysts are forecasting a likelihood of currency intercession coming in Japan in this week.

They said that the Japanese intervention in the foreign exchange markets will now been observed for the first time since April 2004.

Over the last week, Yen reportedly surged 2.5% to Y86.36 surpassing the Dollar, reaching an all-time-high, since December.

Meanwhile, Dollar fell as the US Treasury yields went down to a record low due to concerns over the sloth in the nation’s recovery.

Similarly, the New Zealand Dollar went down for the second consecutive day, following the declaration of the unemployment rate’s surge by the Labor Department.

“There’s enough food for the bears to keep them in control at this point”, said Sean Callow, a senior foreign-exchange strategist in Sydney at Westpac Banking Corp.

Yen was reported to be trading at 111.92 per euro, as recorded at 10:56 a. m. in Singapore. It first surged to 111.53, which is the greatest level measured since July 13.