Yen falls against major currencies after comments by the Bank of Japan

By @ibtimes on

Japanese yen fell against the dollar and other major currencies after the BOJ Governor said that the Japanese economy is in a very sever state and the central bank will do its best to fight deflation and supports economic growth at the same time, which reduced the demand for the Japanese currency.

The euro started today's session with an increase against the dollar, as the pair trades around 1.4166 after recording the highest at 1.4192 and the lowest at 1.4128. The pair faces a resistance at 1.4240. The daily momentum indicators show the pair is in an oversold area.

The pound traded higher against the greenback, trading around 1.6218 after recording the highest at 1.6231 and the lowest at 1.6173. The pair faces a resistance at 1.6260. The daily momentum indicators show the pair is in an oversold area.

The dollar/yen pair increased during the Asian session, as the pair trades around the 81.46 level, recording the highest at 81.52 and the lowest at 80.82. The daily momentum indicators show the pair is heading to the upside.

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