Yen Rises Amid Risk Aversion
(RTTNews) - The Japanese yen strengthened against other major currencies in the Asian session on Thursday amid risk aversion, as traders are cashing in on the strong upward move seen in recent sessions.
They also continued to assess interest rate prospects, digesting mixed comments from U.S. Fed officials.
In the Asian trading now, the yen rose to 2-day highs of 156.38 against the euro and 180.44 against the pound, from yesterday's closing quotes of 157.03 and 181.42, respectively. If the yen extends its uptrend, it is likely to find resistance around 153.00 against the euro and 178.00 against the pound.
Against the U.S. dollar and the Swiss franc, the yen advanced to 2-day highs of 142.81 and 165.66 from yesterday's closing quotes of 143.56 and 166.37, respectively. The yen may test resistance around 140.00 against the greenback and 162.00 against the franc.
Against Australia, the New Zealand and the Canadian dollars, the yen climbed to 2-day highs of 96.34, 89.27 and 106.94 from yesterday's closing quotes of 96.60, 89.65 and 107.35, respectively. On the upside, 94.00 against the aussie, 87.00 against the kiwi and 104.00 against the loonie are seen as the next resistance levels for the yen.
Looking ahead, U.K. public sector net borrowing data for November is due to be released at 2:00 am ET in the pre-European session.
In the New York session, Canada retail sales data for October, U.S. GDP growth rate for the third quarter, U.S. weekly jobless claims and U.S. Federal Reserve Bank of Kansas City manufacturing index for December are slated for release.
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