Yen falls against the dollar after the entry of Japan into recession

By @ibtimes on

The yen slipped against the dollar and other major currencies after the Japanese economy fell into recession again, which reduced the demand for the Japanese currency as safe-haven currency and prompting investors to increase demand on the dollar, which is rising against major currencies.

The euro started today's session with a decrease against the dollar, as the pair trades around 1.4025 after recording the highest at 1.4134 and the lowest at 1.4020. The pair faces a support at 1.3980. The daily momentum indicators show the pair is heading to the downside.

The pound traded lower against the greenback, trading around 1.6166 after recording the highest at 1.6231 and the lowest at 1.6263. The pair faces a support at 1.6140. The daily momentum indicators show the pair is heading to the downside.

The dollar/yen pair increased during the Asian session, as the pair trades around the 81.63 level, recording the highest at 82.01 and the lowest at 81.62. The daily momentum indicators show the pair is in an overbought.

Join the Discussion