Yen Dips, Uncertainty Remains Over Greek Debt Swap

In an apparent knee-jerk reaction to data which showed Japan's current account swung to a record deficit in January, the Yen dropped against the Dollar earlier today. Risk currencies gained though, on hopes that Greece may finally secure a bond swap deal.
The Japanese Yen dipped against the US Dollar and the Euro after Japan posted its first current account deficit in three years.
The Euro edged upwards but most analysts believe it will struggle to hold on to these gains ahead of the Greek debt swap.
It would be best not to take any long term positions close to the outcome of Greek debt deal and Friday's U.S. jobs data.