Euro strengthens versus Yen as inflation in Saxony rises

The shared currency strengthened on Thursday rising to the highest level in four years against the Japanese Yen after a report showed that year-on-year inflation in Germany's Saxony region rose for the first time in a five-month period suggesting that the ECB may not cut its interest rates further. The Euro jumped 0.2% to 138.96 Yen as of 10:28 a.m. in London, the most since June 2009.