Investing.com - The yen slid to fresh six-month lows against the dollar on Thursday and fell to four-year lows against the euro on the view that the Bank of Japan will expand its monetary stimulus program in the coming months.
USD/JPY edged up 0.02% to 102.17, the highest level since May 29 during late Asian trade.
The pair was likely to find support at 101.75 and near-term resistance at 102.51.
The yen remained under pressure amid heightened expectations that the BoJ will implement further stimulus measures in order to meet its target of 2% inflation by 2015.
On Wednesday, BoJ board member Sayuri Shirai raised doubts over whether the inflation target can be met because of downside risks to growth, adding that the bank was open to taking further steps if growth slows.
Trade volumes were thin with markets in the U.S. to remain closed for the Thanksgiving Day holiday on Thursday.
The euro was steady against the yen, with EUR/JPY edging up 0.01% to 138.70, the highest level since August 2009.
Investors were looking ahead to preliminary euro zone inflation data, due out on Friday, amid expectations that the annual rate of inflation would rise to 0.8% in November, from October’s four year low of 0.7%.
The slowdown in euro zone inflation last month prompted the ECB to cut interest rates to a record low 0.25% at its November meeting.
Elsewhere, the euro was almost unchanged against the dollar, with EUR/USD dipping 0.03% to 1.3573.
USD/JPY edged up 0.02% to 102.17, the highest level since May 29 during late Asian trade.
The pair was likely to find support at 101.75 and near-term resistance at 102.51.
The yen remained under pressure amid heightened expectations that the BoJ will implement further stimulus measures in order to meet its target of 2% inflation by 2015.
On Wednesday, BoJ board member Sayuri Shirai raised doubts over whether the inflation target can be met because of downside risks to growth, adding that the bank was open to taking further steps if growth slows.
Trade volumes were thin with markets in the U.S. to remain closed for the Thanksgiving Day holiday on Thursday.
The euro was steady against the yen, with EUR/JPY edging up 0.01% to 138.70, the highest level since August 2009.
Investors were looking ahead to preliminary euro zone inflation data, due out on Friday, amid expectations that the annual rate of inflation would rise to 0.8% in November, from October’s four year low of 0.7%.
The slowdown in euro zone inflation last month prompted the ECB to cut interest rates to a record low 0.25% at its November meeting.
Elsewhere, the euro was almost unchanged against the dollar, with EUR/USD dipping 0.03% to 1.3573.