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Forex News: Yen Slides Against Majors

Yen Slides Against Majors

05/02/2023 - 02:20:00 (RTTNews)

(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Tuesday.

The yen fell to 151.42 against the euro for the first time since September 2008, 153.96 against the Swiss franc for the first time since December 1979 and 172.31 against the pound for the first time since February 2016, from early highs of 150.73, 153.32 and 171.51, respectively.

Against the U.S. and the Canadian dollars, the yen dropped to nearly a 2-month low of 137.78 and a 5-month low of 101.81 from early highs of 137.29 and 101.28, respectively.

If the yen extends its downtrend, it is likely to find support around 154.00 against the euro, 161.00 against the franc, 175.00 against the pound, 144.00 against the greenback and 104.00 against the loonie.

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