Investing.com – The U.S. dollar drifted lower against the yen on Tuesday, falling to its lowest level since Japan's September 15 intervention in currency markets, ahead of the release of key U.S. economic data.
USD/JPY hit 84.06 during European afternoon trade, the pair's lowest since September 15; the pair subsequently consolidated at 84.11, shedding 0.21%.
The pair was likely to find short-term support at 84.00 and resistance at 85.76, the high of September 21.
The dollar's losses came amid fears over a slowdown in the pace of U.S. economic growth ahead of the release of official data on U.S. house prices and consumer sentiment.
The yen was also up against the euro, with EUR/JPY shedding 0.16% to hit 113.12.
On Monday, the Bank of Japan Governor said that the bank would continue to closely monitor the impact of the strong yen on Japan's economy, saying , "I cannot comment on foreign exchange rate levels but we are closely watching the impact of the strong yen on Japan's economy".
USD/JPY hit 84.06 during European afternoon trade, the pair's lowest since September 15; the pair subsequently consolidated at 84.11, shedding 0.21%.
The pair was likely to find short-term support at 84.00 and resistance at 85.76, the high of September 21.
The dollar's losses came amid fears over a slowdown in the pace of U.S. economic growth ahead of the release of official data on U.S. house prices and consumer sentiment.
The yen was also up against the euro, with EUR/JPY shedding 0.16% to hit 113.12.
On Monday, the Bank of Japan Governor said that the bank would continue to closely monitor the impact of the strong yen on Japan's economy, saying , "I cannot comment on foreign exchange rate levels but we are closely watching the impact of the strong yen on Japan's economy".