Forex news: yen strengthens against euro and franc, sliding vs dollar and pound

During Wednesday deals the Japanese yen recovered from an early Asian session’s 12-day low against euro and Swiss franc. Meantime, the yen weakened versus the US dollar and the British pound.

Against the US dollar, the Japanese yen edged down during early Asian deals on Wednesday. At 9:25 pm ET, the yen touched a low of 92.45 against the dollar, compared to 92.33 hit late New York Tuesday. The next downside target level for the yen is seen around 94.4.

The Japanese unit that closed Tuesday’s North American session at 133.68 against the European currency slipped to a 12-day low of 134.18 during today’s early Asian deals. Thereafter, the yen reversed its direction and is currently trading at 133.79 with 132.5 seen as the next target level.

Against the British pound, the Japanese currency showed weakness during Wednesday’s early Asian deals. At 9:15 pm ET, the yen declined to 152.92 versus the pound, compared to Tuesday’s closing value of 152.25. On the downside, 153.9 is seen as the next target level for the yen.

The yen gained ground after hitting a 12-day low of 88.49 against the Swiss franc during Wednesday’s early Asian trading. Presently, the yen is quoted at 88.22 versus the franc. If the Japanese currency gains further, 87.2 is seen as the next target level. The franc-yen pair closed Tuesday’s New York deals at 88.18.

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