The yen continued to add losses across the board in early European deals on Wednesday as low-yielding currencies weakened on growing expectations that the Fed would not taper stimulus this year.
Against the US dollar, the yen dropped to an 8-day low of 98.32 around 3:40 am ET. The Japanese unit also lost ground against the European majors, trading as low as 135.10 against the euro, 109.23 against the Swiss franc and 157.77 against the pound.
The yen slipped to 6-day lows of 93.99 against the Canadian dollar and 81.37 against the New Zealand dollar. The yen was testing yesterday's low against the Australian dollar around 3:50 am ET, trading as low as 93.45.
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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.