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Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the pre-European session on Monday.

The yen rose to a 6-day high of 112.91 against the Swiss franc, from an early low of 113.34.

Against the euro and the pound, the yen advanced to 128.09 and 140.33 from early lows of 128.61 and 140.85, respectively.

Against the U.S., the Australian, the New Zealand and the Canadian dollars, the yen edged up to 109.10, 86.44, 79.81 and 86.59 from early lows of 109.42, 86.75, 80.00 and 86.97, respectively.

If the yen extends its uptrend, it is likely to find resistance around 111.00 against the franc, 127.00 against the euro, 138.00 against the pound, 108.00 against the greenback, 85.00 against the aussie, 78.00 against the kiwi and 84.00 against the loonie.

by RTT Staff Writer

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