Yen Slides Against Majors
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Wednesday.
The yen declined to a 38-year low of 161.88 against the U.S. dollar and a 16-year low of 205.24 against the pound, from yesterday's closing quotes of 161.44 and 204.77, respectively.
Against the Canadian dollar and the euro, the yen slipped to a 17-year low of 118.30 and a 2-day low of 173.79 from Tuesday's closing quotes of 118.00 and 173.45, respectively.
The yen edged down to 178.95 against the Swiss franc, from yesterday's closing value of 178.56.
If the yen extends its downtrend, it is likely to find support around 162.00 against the greenback, 206.00 against the pound, 119.00 against the loonie, 175.00 against the euro and 180.00 against the franc.
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