The yen fell sharply against the dollar and euro in the Tokyo afternoon session, follwing a report from Moody's Investor Services saying they were putting Japanese domestic debt - currently rated Aa3 - on review for a possible downgrade. The yen had earlier shown further signs of strength against the dollar and euro, with dealers again talking of yen repatriation. Analysts said the repatriation talk had been given additional impetus following the release of Ministry of Finance data showing Japanese investors sold Y3.0712 trillion of foreign bonds in January. The euro ended the session marginally lower, despite comments in Tokyo from European Central Bank Vice President Christian Noyer saying the euro was very undervalued against the dollar.