Japanese yen was the top performer among major currencies on Tuesday as the U.S. dollar declined, extending a sharp loss triggered a session before by heightened worries over the global economic growth and the sharp fall in gold prices. The yen rose from multi-year lows against the U.S. dollar and the euro, while commodity-linked currencies like the Australian and the New Zealand dollar fell after gold prices slumped below $1,400 an ounce. The yen edged up on Tuesday as investors remained cautious ahead of a Group of 20 meeting on concerns that members may discuss yen weakness after the U.S. said it would keep an eye on Japan`s policies to ensure Tokyo was not devaluing the yen to gain competitive advantage for its exports. The G-20 officials are scheduled to meet on Thursday and Friday in Washington. Japan`s currency also benefitted from the reversal of the so-called carry trades as gold prices and other markets sold off. The USDJPY pair is currently trading at 97.91 after hitting its highest level at 98.00, while the EURJPY pair fell to 128.050 after starting Tuesday`s session at 126.036. Investors also opted for the safety of the U.S. dollar against the euro and British pound, as gold prices plunged, pushing the USDIX to the upside. Dollar gained support after an act of suspected terrorism shocked the U.S. markets where t wo explosions, 13 seconds apart, rocked the finish line of the 117th running of the Boston Marathon, killing at least three people and injuring more than 140 of the participants and spectators. The USDIX , edged lower to 82.32 as of 13:03 (GMT+3) on Tuesday, compared with the opening of 82.37, recording an intraday high of 82.44 and a low of 82.24. The euro steadied on Tuesday after it dipped to a fresh session low following downbeat economic sentiment data from Germany, where German economic expectations deteriorated in April, falling for the first time in five months, according to the ZEW survey. However, the common currency gained ground following Mario Draghi’s pledge to safeguard the euro. The EURUSD pair is currently trading around $1.3078 after touching a high of $1.3088 and a low of $1.3028. The trading range for today is among the key support at 1.2990 and key resistance at 1.3205. Commodities-sensitive Australian dollar fell to levels not seen in a month as gold tumbled, along with disappointing growth reports from China, Australia`s biggest trading partner. However, the AUDUSD pared those losses modestly on Tuesday to fetch $1.0367 after closing at $1.0312 the previous day. The Australian and New Zealand dollars both fell against the U.S. dollar following the weak Chinese data. Both countries rely heavily on China as an importer of their raw materials. The New Zealand dollar pared some of its losses following China growth data. NZDUSD is currently trading at 0.8474 after opening at 0.8403; the pair so far set an intraday high of 0.8486 and a low of 0.8398. Trading range for the NZDUSD is expected today among the key support at 0.8310 and the key resistance 0.8485

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