The yen strengthened against most of its major peers after Japan cut its economic assessment and as analysts forecast Spanish data will confirm gross domestic product contracted for a third consecutive quarter. Japan’s government downgraded its assessment of the world’s third-biggest economy for the first time in 10 months. Risks include a “further slowing down of overseas economies and sharp fluctuations in the financial and capital markets,” the Cabinet Office said in a monthly report today.

The Dollar Index (DXY) remained higher following a two-day advance before Federal Reserve Chairman Ben S. Bernanke speaks on Aug. 31 at a conference in Jackson Hole, Wyoming. A gauge of U.S. consumer confidence probably rose to 66 in August, the highest since April, from 65.9 last month, a separate poll of economists showed. The Conference Board is scheduled to release the data today.

New Zealand’s dollar, also known as the kiwi, weakened for a second day against the yen. The payout to farmer shareholders in the year ending May 2013 will be 13 percent less than a year earlier, according to a statement today from Auckland-based Fonterra, the world’s largest dairy exporter.

EUR / USD: during the Asian session the pair fell updating week's low.

GBP / USD: during the Asian session the pair fell to $ 1.5750.

USD / JPY: during the Asian session the pair fell to Y78.50.