Yen Falls Against Majors
(RTTNews) - The Japanese yen lost ground against its major counterparts in the European session on Tuesday, amid a divergence in monetary policy between the Bank of Japan and other major central banks.
The BoJ's ultra-loose monetary policy stance is in contrast with those of other major central banks, which pursue monetary tightening measures to bring inflation down.
The yen declined to 136.34 against the greenback, its lowest level since October 1998.
The yen fell to a record low of 141.06 against the franc and an 11-day low of 167.42 against the pound, from its prior highs of 139.38 and 165.28, respectively.
The yen touched near 2-week lows of 143.89 against the euro, 95.02 against the aussie and 86.42 against the kiwi, down from its previous highs of 141.82, 93.79 and 85.37, respectively.
Against the loonie, it was down at an 8-day low of 105.37.
The yen may challenge support around 139.00 against the greenback, 174.00 against the pound, 145.00 against the euro, 98.00 against the aussie, 89.00 against the kiwi and 106.5 against the loonie.
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