FOREX TradingCharts.com

Forex News: Yen Falls Amid Risk-on Mood

Yen Falls Amid Risk-on Mood

06/04/2025 - 02:06:00 (RTTNews)

(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Wednesday, as Asian stock markets traded higher on optimism about amicable trade deals being reached between the U.S. and its trade partners over the weekend after the recent uncertainty. Major currencies in the region also strengthened against the US dollar.

A report showing an unexpected increase by job openings in the U.S. in the month of April portrayed a healthy U.S. labor market despite increased risks from trade policy.

Traders continued to await further developments on the trade front a month ahead of the expiration of US President Donald Trump's 90-day tariff pause.

The Bank of Japan (BoJ) Governor Kazuo Ueda made cautious remarks on Tuesday, fueling expectations that the next interest rate hike may not occur soon. Calls for the Bank of Japan to slow tapering beyond 2026, along with a generally bullish risk tone, appear to be important elements eroding the safe-haven JPY.

In economic news, data from the S&P Global survey results showed that growth in Japan's service-sector activity slowed less than expected in May. The final au Jibun Bank Services Purchasing Managers' Index (PMI) was revised to 51.0 from 50.8 in the flash data. This was lower than the previous month's final figure of 52.4, but it represented a second straight increase in services activity.

In the Asian trading today, the yen fell to 6-day lows of 164.08 against the euro and 195.01 against the pound, from yesterday's closing quotes of 163.73 and 194.60, respectively. If the yen extends its downtrend, it is likely to find support around 166.00 against the euro and 197.00 against the pound.

The yen slipped to a 5-day low of 144.27 against the U.S. dollar, from Tuesday's closing value of 143.82. On the downside, 148.00 is seen as the next support level for the yen.

Against the Swiss franc and the NZ dollar, the yen edged down to 175.02 and 86.52 from yesterday's closing quotes of 174.75 and 86.37, respectively. The yen may test support near 177.00 against the franc and 88.00 against the kiwi.

Against the Australia and the Canadian dollars, the yen slipped to 6-day lows of 93.17 and 105.15 from Tuesday's closing quotes of 92.97 and 104.87, respectively. The next support level for the yen is seen around 95.00 against the aussie and 106.00 against the loonie.

Looking ahead, S&P Global composite and services PMI results for May are due to be released in the European session.

In the New York session, U.S and Canada PMI data for May, U.S. MBA mortgage approvals data, U.S. ADP private-sector employment for May, Canada labor productivity data for the first quarter, U.S. EIA crude oil data and U.S. Fed Beige Book report are slated for release.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2025 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Euro Climbs Against Majors (57 min(s), 55 sec(s) ago)
(RTTNews) - The euro firmed against its major counterparts in the New York session on Friday, as r ...Full Story»

Canadian Dollar Slides As Crude Oil Prices Drop (57 min(s), 55 sec(s) ago)
(RTTNews) - The Canadian dollar weakened against other major currencies in the European session on ...Full Story»

Canadian Dollar Slides Against Majors (12 min(s), 55 sec(s) ago)
(RTTNews) - The Canadian dollar weakened against other major currencies in the European session on ...Full Story»

Pound Falls On Weak U.K. Retail Sales Data (23 min(s), 05 sec(s) ago)
(RTTNews) - The British pound weakened against other major currencies in the early European sessio ...Full Story»

U.S. Dollar Falls As European Shares Traded Higher (47 min(s), 05 sec(s) ago)
(RTTNews) - The U.S. dollar weakened against other major currencies in the early European session ...Full Story»

U.S. Dollar Falls Against Majors (03 hr(s), 14 min(s), 05 sec(s) ago)
(RTTNews) - The U.S. dollar weakened against other major currencies in the Asian session on Friday ...Full Story»

Euro Falls Against Pound (18 min(s), 55 sec(s) ago)
(RTTNews) - The euro dropped against the pound in the New York session on Thursday. The euro ...Full Story»

Swiss Franc Rises After SNB Monetary Policy Decision (54 min(s), 55 sec(s) ago)
(RTTNews) - The Swiss franc strengthened against other major currencies in the European session on ...Full Story»

Search

FOREX NEWS

Euro Climbs Against Majors

06/20/2025 - 15:31 PM (RTTNews)
(RTTNews) - The euro firmed against its major counterparts in the New York session on Friday, as r ...Full Story>>

Canadian Dollar Slides As Crude Oil Prices Drop

06/20/2025 - 06:31 AM (RTTNews)
(RTTNews) - The Canadian dollar weakened against other major currencies in the European session on ...Full Story>>

Canadian Dollar Slides Against Majors

06/20/2025 - 05:46 AM (RTTNews)
(RTTNews) - The Canadian dollar weakened against other major currencies in the European session on ...Full Story>>

Pound Falls On Weak U.K. Retail Sales Data

06/20/2025 - 04:09 AM (RTTNews)
(RTTNews) - The British pound weakened against other major currencies in the early European sessio ...Full Story>>

U.S. Dollar Falls As European Shares Traded Higher

06/20/2025 - 03:45 AM (RTTNews)
(RTTNews) - The U.S. dollar weakened against other major currencies in the early European session ...Full Story>>

Do not sell my personal information

Copyright © 2025. 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.