The Japanese Yen has strengthened against the dollar and euro following a fall in the Japanese stocks and a speech form Prime Minister Shinzo Abe in which he did not announce additional detail on stimulus measures.

The conditions boosted demand for investment in safer assets for the investors. The Japanese national currency gained against 14 of 16 major currencies in the country while the Topix index of shares fell more than 3 per cent in the country. The yen advanced 0.3 per cent to 99.74 per dollar after reaching 98.87 on June 3, which is its strongest since May 9.

Japanese Yen has risen 0.3 per cent to 130.41 per euro and it was stable at $1.3074. Group-of-Seven Volatility Index rose to 10.18 per cent after reaching 10.24 per cent on May 31 and June 3, which is its highest level since February. Investors who were confident over the Abe's growth strategy were disappointed as the Prime Minister did not announce the details for further fiscal stimulus. The yen weakened to 103.74 per dollar on May 22, the weakest since October 2008.

The Topix index of stocks closed down 3.2 per cent after it rose 1.2 per cent during Abe's presentation.