Some analysts said that hopes of fresh stimulus measures in Japan were weakening the yen.
The Japanese economy is still trying to recover from the aftermath last year’s earthquake and tsunami.
The Bank of Japan (BOJ) has announced various measures in the past 12 months to boost growth and has continued to expand those programmes.
Last month, the Japanese central bank expanded its asset purchase programme by by 10tn yen ($130bn; £83bn).
Earlier this week, it said it was boosting a loan programme targeted at growth industries by 2tn yen.
Analysts said there was growing speculation the central bank may boost its stimulus measures further, which would see more money being pumped into the markets, resulting in the yen weakening further.
“There is hope that the Bank of Japan will expand its asset purchase programme even more,” Junko Nishioka of RBS Securities told the BBC.
