JPY index, surprisingly, was the best performer last week closing 1.34% above the base (opening) value. However, as we can see from the graph, this happened mainly due to the gains yesterday which occurred due to changed risk appetite as anxiety over Ukraine renewed. On Friday last week, Yen index lost around 0.4% as better than expected US Non-Farm Employment Change data redirected some of the capital flows towards USD. However, we saw a rather sharp recovery soon after. JPY index remained around base value till Tuesday. That's when JPY index gained 0.35% as investors tried to dodge risk due to concerns about China's economic health and fallen US stock indices.