The dollar gained against the yen in Asian trading on a negative outlook on the Japanese economy that usually causes a rally in the dollar against the yen.

The Bank of Japan released its quarterly survey called “tankan” that found the Japanese business sentiment to be more depressed than at the time of the previous survey.

A quarterly survey by called "tankan" found that large Japanese manufacturers are becoming less optimistic about their business outlook, underlying growing worries about the fragility of the nation’s economic recovery.

The index of corporate sentiments compares the number of the companies that believe business conditions are improving with the number of those that think they are deteriorating. This index lost 8 to land at 14 in March as compared to 22 in December.

The dollar was dragged down by the news of the smaller-than-expected increase in February personal incomes, as well as a rise in jobless claims that occurred contrary to the analysts’ expectations.