With the soaring yen posing a severe threat to an already jittered scenario of its economic recovery, Japan has risen with a slew of measures to placate it. However, it seems that Japan is headed for a disaster as all its effort to tranquilize the rising yen is likely to face a failure if it does not seek assistance from the U.S. and the European Union, currency strategists speculate.

The yen has marked a rise to a 15-year high level, landing the country in frenzy.

In the coming week, the Dollar is expected to fall against the Euro with investors betting that most of the bad news on European fiscal misery is already priced in with the single currency's 7 % turn down in May.

Euro zone sovereign arrear concerns remain in spite of a near $1 trillion safety net set up by European officials to ward off any contagion from Greece, but financiers are eager to bet that at least for now, the Euro has touched solid hold up.

On Tuesday, on the back of minutes issued from the Reserve Bank of Australia's December meeting, which suggested that there would be a pause in the tightening of policies, the Australian Dollar gained momentum in late trading.

At about 17.00 AEDT, the currency recorded a trading value of $US0.9124/27, which is marginally up from Monday's closing rate of $US0.9107/11.

In a development which led to country's central bank selling the currency immediately, the Swiss Franc weakened by as much as 0.3% against the Euro. The fall has come after the currency hitting its highest level in as many as 5 months.

In addition to Euro, the Franc also recorded falling values against the Dollar, after climbing yesterday for the first time in 19 months. Both major Swiss banks, the Swiss National Bank and the Bank for International Settlements have declined to comment on the sudden currency slip.