Yen Drops To Multi-day Lows Against Most Majors

The Japanese yen declined across the board in early Asian trading on Friday and reached multi-day lows against most of them.

The yen slumped to an 8-day low of 78.09 against the Australian dollar and a 1-week low of 63.44 against the NZ dollar around 8:05 pm ET, compared to Thursday’s New York session closing values of 77.71 and 63.04, respectively. If the yen weakens further, support levels are seen at 64.50 against the kiwi and 78.40 against the aussie.

The yen fell to a 2-day low of 133.38 against the pound around 8:00 pm ET and this may be compared to yesterday’s close of 132.72. The pound-yen pair is presently worth 132.96 with 136.0 seen as the next likely target level.

The Japanese currency also declined to a 2-day low of 87.24 against the US dollar and 84.21 versus the Canadian dollar before reversing the direction around 8:05 pm ET. The yen that closed Thursday’s North American deals at 86.96 against the greenback and 83.88 versus the loonie is presently quoted at 87.05 and 83.94, respectively.

The yen also drifted lower to 83.77 against the Swiss franc and 112.69 against the euro before reversing its course around 8:00 pm ET. The yen that closed yesterday’s deals at 83.41 against the franc and 112.12 versus the euro is presently quoted at 83.54 and 112.38, respectively.

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