Following yesterday’s release of U.S. Non-Farm Payrolls which showed slow growth and suggested that the Fed will not be easing its stimulus plan, the dollar fell to a two-year low against the euro. The much-awaited report by the Labor Department which had been delayed by the U.S. government shutdown showed yesterday that employers had added fewer jobs in the American than economists expected.

The yen also saw a rise against all major counterparts as investors seek for alternative refuge assets. The yen can be seen strengthening in periods of global economic turmoil because Japan does not rely on foreign capital to fund its deficit.