Yen Retreats Against Majors
2024-12-08
2895
(fxcue news) - The Japanese yen retreated from recent highs against other major currencies in the European session on Wednesday.
The yen fell to 2-week lows of 160.39 against the euro and 172.71 against the Swiss franc, from recent 2-day highs of 158.66 and 170.88, respectively.
Against the pound, the U.S. and the Canadian dollars, the yen dropped to more a than 2-week low of 194.50, a 2-week low of 152.73 and nearly a 2-week low of 107.61 from recent highs of 192.54, 151.01 and 106.51, respectively.
Against the Australia and the New Zealand dollars, yen slipped to 96.90 and 88.08 from recent 2-day highs of 96.01 and 87.26, respectively.
If the yen extends its downtrend, it is likely to find support around 165.00 against the euro, 175.00 against the franc, 198.00 against the pound, 157.00 against the greenback, 111.00 against he loonie, 99.00 against the aussie and 92.00 against the kiwi.
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