RTTN: Yen Slides To New Multi-month Lows Against European Majors
(RTTNews) - The Japanese yen edged sharply lower across the board in early New York deals on Monday.
The yen reached below the 128.0 level against the pound around 9:15 am ET for the first time since mid-May.
The yen also fell below the key 85.0 mark against the Swiss franc around this time, its weakest mark since May 22.
The Japanese unit breached the 103.50 level against the euro for the first time since May 11.
The yen slipped to 81.17 against the Canadian dollar around 9:20 am ET, its lowest level since May 4.
The yen extended previous session's downtrend against the dollar in early New York trading on Monday, falling to a 10-day low of 78.81 around 9:15 am ET.
The yen also reached session's lows of 65.30 against the NZ dollar and 82.86 against the Australian dollar around 9:20 am ET.
On the downside, the Japanese currency may find target levels at 128.60 against the pound, 85.60 against the Swiss franc, 103.80 against the euro, 79.0 versus the greenback and 81.50 against the loonie.
Further bearish trend could help the yen re-test last week's fresh multi-week low of 83.11 against the Australian dollar.
The yen is presently trading a tad below Friday's fresh multi-month low of 65.32 against the NZ dollar with 65.70 seen as the next likely target level.
