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Japanese yen gains versus majors

Publish Date28/11/2012 06:10:21 AM

Last Update28/11/2012 08:30:18 AM

Japanese yen rose Wednesday against major currencies with the beginning of today’s Asian session as Asian stocks slid amid risk aversion, which boosted Japanese yen against majors as a safe-haven currency. The Organization for Economic Cooperation and Development (OECD) boosted fears in markets through its report about global economic outlook.

Euro fell against U.S. dollar and yen ahead of the unemployment data in Germany which is expected to surge to its highest in a year, as data might show on Thursday. The U.S. economy remains under the spotlight with fears over the fiscal cliff. 

EUR/USD pair fell for the second straight day to a low of 1.2924 from the high of 1.2938, where the pair recorded its lowest level in three sessions yesterday at 1.2914.

USD/JPY pair fell to its lowest in week at 81.77 to trade now near 81.85 after hitting a high of 82.20. EUR/JPY pair fell for the third straight day recording low at 105.71 after hitting a high of 106.34 and now trading near 105.87.

The Australian dollar gained against the U.S. counterpart from its lowest level in three sessions at 1.0431 to a high of 1.0450. It is now trading near 1.0449. 

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