RTTN: Yen Pares Recent Gains Against Majors; Hits Multi-year Low Against Dollar
The Japanese yen that advanced against its major rivals following the Bank of Japan Governor Haruhiko Kuroda's remarks in early New York deals that the central bank has done "what's necessary and possible for now" reversed direction as the session rolled on.
The yen slipped to 99.71 against the dollar around 9:10 am ET, its weakest level since May 2009 and down by more than 0.7 percent from its recent high of 98.99.
The yen also retreated to reach fresh multi-year lows of 152.72 against the pound and 107.09 against the Swiss franc around 9:20 am ET. The yen fell as low as 130.48 against the euro around the same time, just a few pips short of early European session's near 3-year low of 130.50.
