Investing.com – The U.S. dollar was down against the yen on Wednesday, falling to its lowest level since Japan's September 15 intervention, after worse-than-expected data on U.S. consumer confidence sparked broad dollar selling.
USD/JPY hit 83.50 during European morning trade, a 2-week low; the pair subsequently consolidated at 83.58, shedding 0.34%.
The pair was likely to find support at 82.92, the low of September 15 and a 15-year low and resistance at 84.38, the high of September 23.
Earlier in the day, official data showed that business confidence among Japanese manufacturers improved in September for the sixth consecutive quarter, rising to its highest level in seven and a half years.
However the report said that the 3-month outlook dropped for the first time in seven quarters, amid concerns over the yen's continuing strength.
Meanwhile, the yen was flat against the euro, with EUR/JPY shedding 0.01% to hit 113.94.
On Tuesday, data showed that U.S. consumer confidence fell significantly more-than-expected in September as consumers saw no improvement in the labor market.
USD/JPY hit 83.50 during European morning trade, a 2-week low; the pair subsequently consolidated at 83.58, shedding 0.34%.
The pair was likely to find support at 82.92, the low of September 15 and a 15-year low and resistance at 84.38, the high of September 23.
Earlier in the day, official data showed that business confidence among Japanese manufacturers improved in September for the sixth consecutive quarter, rising to its highest level in seven and a half years.
However the report said that the 3-month outlook dropped for the first time in seven quarters, amid concerns over the yen's continuing strength.
Meanwhile, the yen was flat against the euro, with EUR/JPY shedding 0.01% to hit 113.94.
On Tuesday, data showed that U.S. consumer confidence fell significantly more-than-expected in September as consumers saw no improvement in the labor market.