The Japanese yen declined further against the dollar and other major currencies with the beginning of the week, as the Tankan index of large industrial companies in Japan fell more than expected to emphasize the instability of the outlook in Japan.

The yen fell near its lowest level in 16 years against the dollar and other major currencies, to trade against the dollar at 83.09 after opening the session at 82.87, and recorded the highest level of 83.29 and a lowest of 82.79.

On the other hand, the Australian dollar declined significantly against the dollar after the building approvals in Australia dropped more than expected, which reduced demand for the Aussie, where the AUD/USD pair opened today's session with a bullish price gap that forced the pair to drop in order to cover the gap.

The AUD/USD pair is trading at the level of 1.0392, after it recorded its highest level at 1.0435 and the lowest at 1.0380 while the pair opened today's session at 1.0424.

The New Zealand dollar followed the footsteps of the Australian dollar, opening today's session with an upside gap which forced the Kiwi to fall against the U.S. dollar; currently the NZD/USD pair is trading at 0.8193, as it recorded the highest level at 0.8221 and a lowest at 0.8183.