Tuesday morning in Asia, the Japanese currency rose to an 11-day high against the pound. The yen also gained against the euro and the franc, but it showed choppy trading against the dollar.
The yen that closed yesterday's trading at 168.63 against the euro strengthened to 168.09 during early Asian deals on Tuesday. If the Japanese currency moves further higher, it may test near term resistance around the 167 level.
In early Asian trading on Tuesday, the yen gained against the franc and reached a high of 103.01 at 11:20 pm ET. The immediate resistance for the yen is seen around the 102.4 level against the franc. The yen that hit a 6-day low of 103.46 against the franc in morning New York trading yesterday reversed direction in afternoon deals and closed the day's trading at 103.32.
The Japanese yen advanced against the UK currency in early Asian deals on Tuesday. The pair, which closed Monday's New York session at 212.44 reached 212.04 by about 8:15 pm ET. This set a highest point for the yen since July 25. The next upside target level for the yen is seen around 211.7 against the pound.
During early Asian deals on Tuesday, the yen largely bounced between 108.16 and 108.30 against the dollar. The near term support and resistance levels for the dollar-yen pair are seen around 107.3 and 108.4, respectively. The pair was worth 108.28 at the close of North American session yesterday.
Markets will now focus on the busy European session, in which Italy, French, German, UK and the Euro-zone services PMI reports for July, UK June industrial production and the Euro-zone June retail sales are expected.
Turning to the US, the ISM non-manufacturing composite index for July has been scheduled for release in the New York morning. At 2:15 pm ET, the Federal Open Market Committee is scheduled to announce its interest rate decision. The Fed is widely expected to keep benchmark interest rates steady at 2.0 percent in face of higher risks of inflation and to economic growth.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.