(DaCol. @ Mar. 30 2007,20:44) Check you owners manual it will show you how to take off the front Wheel. But simply put NO; you don't have to take off the fender.
1) Remove the Front Brake Calipers (Left and Right)
2) Loosen 2 Axle pinch bolts on the right front fork leg
3) Loosen the front Axle
4) Remove Front Axle and the Front Wheel
5) After removing front wheel, fit the calipers temporarily to the original postions (make sure you don't squeeze the brake handles-- I tie first with zip ties to make sure I can't hit them and apply the front brakes while the wheel / brake disc are gone)
6) Loosen 2 axle pinch bolts on the left front fork leg and remove the spacer nut .
Above from the Manual and Experience
Reassembly is reverse but with axle grease on some parts and correct torquing.
I really think this is in the small owners manual with the bike. It's not a big deal, so you should just go through what your doing in your mind and be clear about what and why your doing it. Then it's simple