FOREX TradingCharts.com

Forex News: Yen Drops Amid Risk Appetite

Yen Drops Amid Risk Appetite

07/06/2020 - 04:00:00 (RTTNews)

(RTTNews) - The Japanese yen depreciated against its major counterparts in the Asian session on Monday, as hopes for fiscal stimulus measures helped shrugged off worries about a rise in coronavirus cases in the U.S. and other parts of the world.

Lockdown restrictions eased further in Europe, with England embarking on perhaps its biggest lockdown easing yet as pubs and hairdressers reopen for the first time since late March.

Starting July 1, the European Union opened its borders to travelers from some third countries where the coronavirus outbreak is considered to be under control.

The World Health Organization said that more than 200,000 coronavirus cases were confirmed worldwide on Saturday, marking the highest single-day total since the start of the pandemic.

The yen fell to a 5-day low of 107.77 against the greenback and near a 3-week low of 121.62 against the euro, off its early highs of 107.43 and 120.78, respectively. The yen is seen finding support around 110.00 against the greenback and 123 against the euro.

Reversing from its early highs of 113.62 against the franc and 133.97 against the pound, the yen declined to near a 5-week low of 114.25 and a 4-day low of 134.68, respectively. The yen is likely to challenge support around 117.00 against the franc and 139.00 against the pound, if it drops again.

The yen slipped to a 5-day low of 79.64 against the loonie, near 4-week lows of 75.16 against the aussie and 70.67 against the kiwi, after rising to 79.20, 74.45 and 70.09, respectively in early deals. The next possible support for the yen is seen around 81.00 against the loonie, 77 against the aussie and 72.00 against the kiwi.

Looking ahead, U.K. construction PMI for June and Eurozone retail sales for May are due in the European session.

The U.S. ISM non-manufacturing composite index for June will be out in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Canadian Dollar Climbs As Oil Prices Rally (05 hr(s), 50 min(s), 20 sec(s) ago)
(RTTNews) - The Canadian dollar drifted higher against its major rivals in the European session on ...Full Story»

U.S. Dollar Higher On China Sanction Worries (08 hr(s), 05 min(s), 19 sec(s) ago)
(RTTNews) - The U.S. dollar firmed against its major counterparts in the European session on Monda ...Full Story»

Euro Little Changed After Eurozone Sentix Investor Confidence Index (10 hr(s), 14 min(s), 19 sec(s) ago)
(RTTNews) - Following the release of Eurozone Sentix investor confidence results at 4.30 am ET Mon ...Full Story»

Euro Falls Vs Most Majors Ahead Of Eurozone Sentix Investor Confidence Index (10 hr(s), 20 min(s), 20 sec(s) ago)
(RTTNews) - At 4.30 am ET Monday, Eurozone Sentix investor sentiment data is due. Economists forec ...Full Story»

Indian Rupee Off Near 4-week Low Against U.S. Dollar (12 hr(s), 02 min(s), 20 sec(s) ago)
(RTTNews) - The Indian rupee erased its early losses against the U.S. dollar in the morning sessio ...Full Story»

Loonie Strengthens After Canada Jobs Data (06 hr(s), 11 min(s), 20 sec(s) ago)
(RTTNews) - Statistics Canada has released Canada jobs data for July at 8:30 am ET Friday. Th ...Full Story»

Dollar Advances After U.S. Jobs Data (06 hr(s), 11 min(s), 20 sec(s) ago)
(RTTNews) - Following the release of the U.S Labor Department's non-farm payrolls data for Jul ...Full Story»

Dollar Mixed Ahead Of U.S. Jobs Data (06 hr(s), 20 min(s), 20 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, the U.S Labor Department will release non-farm payrolls data for ...Full Story»

Search

FOREX NEWS

Canadian Dollar Climbs As Oil Prices Rally

08/10/2020 - 08:57 AM (RTTNews)
(RTTNews) - The Canadian dollar drifted higher against its major rivals in the European session on ...Full Story>>

U.S. Dollar Higher On China Sanction Worries

08/10/2020 - 06:42 AM (RTTNews)
(RTTNews) - The U.S. dollar firmed against its major counterparts in the European session on Monda ...Full Story>>

Euro Little Changed After Eurozone Sentix Investor Confidence Index

08/10/2020 - 04:34 AM (RTTNews)
(RTTNews) - Following the release of Eurozone Sentix investor confidence results at 4.30 am ET Mon ...Full Story>>

Euro Falls Vs Most Majors Ahead Of Eurozone Sentix Investor Confidence Index

08/10/2020 - 04:27 AM (RTTNews)
(RTTNews) - At 4.30 am ET Monday, Eurozone Sentix investor sentiment data is due. Economists forec ...Full Story>>

Indian Rupee Off Near 4-week Low Against U.S. Dollar

08/10/2020 - 02:47 AM (RTTNews)
(RTTNews) - The Indian rupee erased its early losses against the U.S. dollar in the morning sessio ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.