Gains for yen and Nikkei 225
Nikkei rose 3% but yen fell sharply
The US dollar is closing in on a five-year high versus the yen, with gold heading towards a one-year low, ahead of the release of minutes from the Federal Reserve's historic December meeting.
Asian shares took a breather on Wednesday, struggling for traction as some investors locked in profits from the markets' recent rally while a bit of yen strength capped the upside for Japanese stocks.
Jittery stock markets and the continuing debt crisis see investors opting for 'safe haven' currencies.
President Barack Obama has announced a deal to end the US debt crisis, which will raise the nation's debt ceiling by at least $2.1trn and cut the federal deficit by as much as $2.5trn over a decade.
The yen has plunged against a basket of currencies after the Bank of Japan said the economy lies in a perilous state.
Laurent Kssis at LaBranche Structured Products Europe (LSPE) discusses European ETF trades for the week ending 18 March.