The Japanese yen that advanced against its major rivals following the Bank of Japan Governor Haruhiko Kuroda's remarks in early New York deals that the central bank has done "what's necessary and possible for now" reversed direction as the session rolled on.
The yen slipped to 99.71 against the dollar around 9:10 am ET, its weakest level since May 2009 and down by more than 0.7 percent from its recent high of 98.99.
The yen also retreated to reach fresh multi-year lows of 152.72 against the pound and 107.09 against the Swiss franc around 9:20 am ET. The yen fell as low as 130.48 against the euro around the same time, just a few pips short of early European session's near 3-year low of 130.50.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.