Investing.com – The U.S. dollar was down against the yen on Monday, but remained locked in its recent range as concerns over the ongoing debt crisis in the euro zone and sell-offs in equities markets saw investors flock to safe haven assets.
USD/JPY hit 76.23 during late Asian trade, the daily low; the pair subsequently consolidated at 76.42, shedding 0.22%.
The pair was likely to find support at 75.94, the low of August 19 and the pair’s all-time low and resistance at 76.87, Friday’s high.
Weekend meetings of leaders from the G-20 nations and the International Monetary Fund resulted in no fresh steps to tackle the debt crisis in the single currency bloc.
Meanwhile, concerns over a default by Greece mounted after Germany’s deputy finance minister Joerg Asmussen said Sunday that a decision on the country’s next tranche of aid was unlikely to be made at a meeting on October 3rd as previously expected, because a report by the IMF, European Central Bank and European Commission has been delayed.
The yen remained supported amid ongoing speculation over an intervention by Japan to curb the appreciation of its currency.
The yen was also up against the euro, trading close to a 10-year high, with EUR/JPY tumbling 0.82% to hit 102.53.
Later in the day, the U.S. was to produce government data on new home sales.
USD/JPY hit 76.23 during late Asian trade, the daily low; the pair subsequently consolidated at 76.42, shedding 0.22%.
The pair was likely to find support at 75.94, the low of August 19 and the pair’s all-time low and resistance at 76.87, Friday’s high.
Weekend meetings of leaders from the G-20 nations and the International Monetary Fund resulted in no fresh steps to tackle the debt crisis in the single currency bloc.
Meanwhile, concerns over a default by Greece mounted after Germany’s deputy finance minister Joerg Asmussen said Sunday that a decision on the country’s next tranche of aid was unlikely to be made at a meeting on October 3rd as previously expected, because a report by the IMF, European Central Bank and European Commission has been delayed.
The yen remained supported amid ongoing speculation over an intervention by Japan to curb the appreciation of its currency.
The yen was also up against the euro, trading close to a 10-year high, with EUR/JPY tumbling 0.82% to hit 102.53.
Later in the day, the U.S. was to produce government data on new home sales.