The Japanese yen slipped against other major currencies in Asian deals on Monday, as the country's current account surplus dropped in March.
Data from the Ministry of Finance showed that Japan recorded a current account surplus of 116.4 billion yen in March.
That was shy of forecasts for a surplus of 347.7 billion yen following the 612.7 billion yen surplus in February.
The trade balance showed a deficit of 1,133.6 billion yen - missing expectations for a shortfall 1,125.4 billion yen following the 533.4 billion yen deficit in the previous month.
Meanwhile, escalating concerns over Ukraine dampened investor mood in Asia. Pro-Russian separatists claimed that the referendum held in two regions of eastern Ukraine proved successful, with most people supporting a split from Ukraine. Both Ukrainian government and the West condemned that polls are illegal and they won't recognize the outcome.
The yen declined to 102.06 against the greenback, its lowest since May 6. This is down by 0.2 percent from last week's closing quote of 101.84. If the yen extends slide, 103.00 is seen as its next possible downside target level.
The yen that ended Friday's trading at 87.74 against the kiwi slipped to a 4-day low of 88.06. Further weakness may take yen to a support around the 89.00 area.
The yen slipped to a 4-day low of 95.49 against the aussie, compared to Friday's closing value of 95.36. The next possible support for the yen is seen around the 96.00 mark.
The yen reached as low as 172.03 against the pound, 140.39 against the euro and 115.04 against the franc. The yen is likely to seek support around 173.00 against the pound, 142.00 against the euro and 116.00 against the franc.
Looking ahead, Swiss retail sales data for March is due at 3:15 am ET.
The U.S. monthly budget statement is to be released at 2:00 pm ET.
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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.