Modern English
Modern English (sometimes New English or NE as opposed to Middle English and Old English) is the form of the English language spoken since the Great Vowel Shift in England, which began in the late 14th century and was completed in roughly 1550.
Y
The oldest direct ancestor of English letter Y was the Semitic letter "waw" (pronounced as [w]), from which also come F, U, V, and W. See F for details. The Greek and Latin alphabets developed from the Phoenician form of this early alphabet. In Modern English, there is also some historical influence from the old English letter "yogh" (Ȝȝ), which developed from the Semitic "gimel" (as described below).