Yen Slides To 3-1/2 Month Low Against Dollar

Yen Slides To 3-1/2 Month Low Against Dollar




The Japanese yen declined across the board in late Asian deals on Thursday.
The yen reached 78.74 against the dollar around 3:00 am ET, the lowest level since November 1, 2011. On the downside, the yen may find target around the 79.0 level.
The Japanese currency also reached as low as 123.47 against the pound, 84.94 against the Swiss franc and 102.48 versus the euro before holding steady around 3:00 am ET.
If the yen weakens further, likely support levels are seen at 102.70 against the euro, 123.55 against the pound and 85.10 against the Swiss franc.
The Japanese unit lost ground versus the resource-linked currencies in late Asian deals Thursday, falling as low as 84.12 against the Australian dollar, 78.59 against the Canadian dollar and 65.17 versus the New Zealand dollar by 3:00 am ET.


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