News Column

Yen Extends Gain Against Most Majors

May 6, 2014

CANBERA (Alliance News) - The yen extended gain against most major currencies ahead of European session on Wednesday.

Against the U.S dollar, the yen rose to more than a 3-week high of 101.43, from an early low of 101.77. Yesterday's closing value of the pair was at 101.68.

The yen rose to a 1-week high of 141.15 against the euro, from a low of 141.76 hit in the early Asian session. The pair closed yesterday's deals at 141.62.

Against the NZ dollar, the yen climbed to a 6-day high of 88.07, from a low of 88.90 hit in the early Asian session. The pair closed yesterday's deals at 88.88.

The yen climbed to 93.19 against the Canadian dollar and 94.73 against the Australian dollar, from early lows of 93.45 and 95.00, respectively. The yen closed yesterday's deals at 93.33 against the loonie and 95.06 against the aussie.

Against the pound, the yen climbed to 172.20, from an early low of 141.75. The pair closed yesterday's deals at 172.61.

If the yen extends its uptrend, it is likely to find resistance around 140.90 against the euro, 101.26 against the greenback, 171.14 against the pound, 87.15 against the kiwi, 92.62 against the loonie and 94.11 against the Australian dollar.

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Source: Alliance News

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