In Asian trading on Tuesday, the Canadian dollar advanced against the yen. At about 11:45 pm ET, the loonie-yen pair reached 78.43, up from yesterday's close of 77.10. The near term resistance level for the pair is seen at 80.5.

The yen slumped today after a report showed that Japan's unemployment rate jumped to a 3-year high in February. The Ministry of Health, Labor and Welfare said that Japan's seasonally adjusted unemployment rate increased to 4.4% in February, slightly higher than forecasts for a 4.3 percent increase after the 4.1 percent gain in January.

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