The euro is at a five-week high against the dollar following Japan's intervention in the currency markets.
After the Bank of Japan stepped in to weaken the yen, Europe's currency closed at £1.314 on Friday (September 17th), up from $1.308 the day before.
The British pound was also trading up, at $1.569 to the dollar, as markets around the world digested the proceedings in Japan.
Recent months have seen the yen's status as a safe-haven push its value so high among investors and online Forex traders that the nation's exporters have struggled in the face of falling supply.
However, some have criticised the action taken by the Bank of Japan to lower the value of its currency.
BusinessEurope, which represents 40 industrial and employer federations from across the continent, dismissed what it called "market manipulation".
Speaking to Reuters, the organisation's chief economist Mark Stocker said: "We can understand the situation of the Japanese industry, they are under pressure; but the effectiveness of these interventions is very doubtful.
"Market forces need to be defining the price of currency in all countries, in emerging markets and in China in particular."
