Investing.com – The U.S. dollar was down against the yen on Wednesday, falling to a daily low as ongoing tensions on the Korean peninsula after North Korea’s shelling of a South Korean island supported safe haven buying.
USD/JPY hit 82.95 during early European trade, the daily low; the pair subsequently consolidated at 82.99, shedding 0.19%.
The pair was likely to find support at 82.39 the low of November 15 and resistance at 83.84, Tuesday’s high.
While Tuesday's artillery attack was one of the most serious incidents on the peninsula since the end of the Korean War in 1953, Seoul’s measured response blunted the impact of the incident on financial markets.
Separately, in the euro zone fears that Ireland’s financial crisis would spread to other indebted euro zone counterparts such as Portugal or Spain continued to exacerbate risk aversion.
On Tuesday, officials from the European Union urged Ireland to adopt an austerity budget in time to access a rescue package from the EU and the International Monetary Fund as a deepening political crisis in the country threatened to derail the financial bailout.
Also Tuesday, rating’s agency Standard and Poor's downgraded its sovereign rating on Ireland.
The yen was also up against the euro, with EUR/JPY shedding 0.34% to hit 110.78.
Later in the day, the U.S. was to release a slew of data ahead of the Thanksgiving holiday, with a weekly report on initial jobless claims as well as data on personal spending, durable goods orders and new home sales. The country was also to publish revised data on consumer sentiment and inflation expectations.
USD/JPY hit 82.95 during early European trade, the daily low; the pair subsequently consolidated at 82.99, shedding 0.19%.
The pair was likely to find support at 82.39 the low of November 15 and resistance at 83.84, Tuesday’s high.
While Tuesday's artillery attack was one of the most serious incidents on the peninsula since the end of the Korean War in 1953, Seoul’s measured response blunted the impact of the incident on financial markets.
Separately, in the euro zone fears that Ireland’s financial crisis would spread to other indebted euro zone counterparts such as Portugal or Spain continued to exacerbate risk aversion.
On Tuesday, officials from the European Union urged Ireland to adopt an austerity budget in time to access a rescue package from the EU and the International Monetary Fund as a deepening political crisis in the country threatened to derail the financial bailout.
Also Tuesday, rating’s agency Standard and Poor's downgraded its sovereign rating on Ireland.
The yen was also up against the euro, with EUR/JPY shedding 0.34% to hit 110.78.
Later in the day, the U.S. was to release a slew of data ahead of the Thanksgiving holiday, with a weekly report on initial jobless claims as well as data on personal spending, durable goods orders and new home sales. The country was also to publish revised data on consumer sentiment and inflation expectations.