Yen gains versus major peers on speculation of stimulus failure

The Japanese currency appreciated against most of its major counterparts on Wednesday on speculations that the Bank of Japan's inflation target of 2% may not be achieved using the bank's monetary stimulus program. The Yen advanced by 0.5% to 93.02 per U.S. dollar earlier on Wednesday New York session after dropping 0.2% yesterday, while it was traded at 119.54 per Euro.