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Yen Extends Rally Against Majors

The Japanese yen extended its early rally against its major counterparts in early New York deals on Wednesday.

The yen rose to 111.79 against the greenback, its highest since May 2, while touching a 2-day high of 124.18 against the euro.

The yen advanced to a session's high of 113.85 against the franc, compared to yesterday's closing value of 114.73.

The yen climbed to 144.78 against the pound, setting near a 2-week high, from an early low of 146.12.

The yen strengthened to a multi-week high of 82.62 against the aussie, near 2-week high of 81.94 versus the loonie and more than a 2-week high of 76.96 against the kiwi, off its early lows of 84.01, 83.15 and 77.89, respectively.

The next possible resistance for the yen is seen around 110.00 against the greenback, 143.00 against the pound, 122.00 against the euro, 111.00 against the franc, 79.00 against the aussie, 79.00 against the loonie and 75.00 against the kiwi.

by RTT Staff Writer

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