Yen Declines Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Thursday.

The yen declined to a 34-year low of 155.75 against the U.S. dollar, a 16-year low of 166.80 against the euro and a 9-year low of 194.25 against the pound, from yesterday's closing quotes of 155.34, 166.17 and 193.57, respectively.

The yen dropped to a 6-day low of 170.39 against the Swiss franc, from yesterday's closing value of 169.71.

Against Australia, the New Zealand and the Canadian dollars, the yen slipped to nearly a 10-year low of 101.41, nearly a 2-month low of 92.56 and a 17-year low of 113.78 from Wednesday's closing quotes of 100.92, 92.19 and 113.33, respectively.

If the yen extends its downtrend, it is likely to find support around 157.00 against the greenback, 168.00 against the euro, 196.00 against the pound, 172.00 against the franc, 102.00 against the aussie, 93.00 against the kiwi and 114.00 against the loonie.