Yen Rises as Drop in U.S. Stocks Spurs Demand for Safety Assets

April 7 (Bloomberg) -- The yen gained from five-month lows against the dollar and euro after U.S. stocks ended a four-day rally, spurring speculation that global stocks will slide and boost demand for safer assets.
The Japanese yen rose against both currencies for the first time in almost a week after a Calyon Securities analyst said loan losses at banks will exceed levels from the Great Depression. Australia’s dollar slumped for a third day as traders increased bets that the Reserve Bank of Australia will reduce its key interest rate from the lowest level in 45 years.

Forex: USD/JPY: The Dollar, rejected from 100.00 level

FXstreet.com (Barcelona) – The Dollar continues struggling to get above the 100 level but sellers are winning the battle so far, as resistance around 98.90 seems a rather sturdy one, he pair trades several pips below the latter level at midday time in Europe.
Support levels remain at 99.50 and then next support could appear at the 99.00/98.85 zone, beneath that level, 98.40 (Apr 2 low). On the upside, above 99.95 next resistance could lie at 100.55 (Now 4 high) and, above there, 101.00.
According to the Swiss e Trade Strategy Team, successful move above 100.00 seems rather unlikely: “Currently priced at 99.90 and near to the still-unbroken resistance at 100.00. We do not expect this upper end of the trading range to be broken today. A down move from here is likely, testing the 99.30 level.”

FOREX-Yen, dollar pare losses on caution before US jobs

TOKYO, April 3 (Reuters) - The yen and the dollar trimmed losses after hitting multi-month lows on Friday on renewed risk appetite, as caution set in ahead of U.S. employment figures due later in the day.
G20 leaders clinched a $1.1 trillion deal on Thursday to counter the worldwide economic crisis and the United States said it would change accounting rules to allow banks more flexibility in valuing toxic assets. [ID:nL1230573] [IDn:nN02355900] [.N]
Both developments improved investors' appetite for risk and weighed on the Japanese and U.S. currencies on Friday, with the yen hitting a 5-½ month low and the dollar a three-month trough versus the Australian dollar in early trade.

Japanese yen recovers from new multi-month lows against majors

(RTTNews) - The Japanese yen recovered from new multi-month lows against its major counterparts in Asian deals on Friday as Asian stocks pared gains, tempering demand for higher-yielding assets.
The Japanese stock market opened higher and is trading in positive territory today morning, taking the cues from Wall Street where the major indices rose for the third consecutive day on expectations that the global economy is showing signs of stabilization.
In early morning trading, the benchmark Nikkei 225 Index, having opened strongly at 8,814 compared to its previous close of 8,720, is currently trading at 8,765, up 45.43 points, and the broader Topix index of all First Section Issues is gaining 9.85 points to 837.
Against the US dollar, the Japanese yen edged down to 100.19 during early Asian deals on Friday. This set the lowest point for the yen since November 4, 2008. Thereafter, the Japanese currency reversed its direction and is currently trading at 99.75 against the greenback with 97.4 seen as the next target level.

Canadian dollar falls from new multi-month high against Japanese yen; pair now trading at 80.39

(RTTNews) - Canadian dollar falls from new multi-month high against Japanese yen; pair now trading at 80.39

Japanese Yen extends downtrend against majors

(RTTNews) - The Japanese yen lost further ground across the board in early Asian trading on Friday. The yen plunged to new multi-month lows of 87.99 against the Swiss franc, 146.99 against the pound, 58.51 against the New Zealand dollar and 71.67 against the Australian dollar by 7:30 pm ET. Against the currencies of Europe and Canada, the yen plummeted to a 10-day low of 134.34 and 80.64, respectively. The yen also eased to 99.82 versus the US dollar by this time, just a few pips away from its century mark.

Yen extends downtrend against most majors

(RTTNews) - The Japanese yen extended previous session's downtrend against most of its major counterparts during early Asian deals on Friday. The yen was worth fresh multi-month lows of 146.87 against the British pound and 87.93 versus the Swiss franc at about 6:00 pm ET, compared to yesterday's New York session close of 146.60 and 87.80, respectively. Against the euro, the yen ticked down and touched a multi-day low of 134.21 by about 6:00 pm ET.