(RTTNews) - Friday in Asia, the yen slipped against most major currencies as some Asian stocks recovered their early losses, thus reducing demand for the safe-haven Japanese currency.
The yen slumped to more than a 2-week low against the US dollar and a 2-day low against the franc and the NZ dollar. Meanwhile, the yen eased from a 4-day high against the euro and showed modest weakness against the Canadian dollar.
On the other hand, the yen showed choppy trading against the currencies of U.K. and Australia.
Asian stocks declined earlier on caution ahead of the U.S. jobs data. A none too promising close on Wall Street overnight, and a lack of triggers from the Asian region also contributed to the subdued trend.
However, stocks in Japan, South Korea, China and Hong Kong recouped their early losses and currently trading higher.
Japan's benchmark Nikkei 225 index is currently up 19.22 points or 0.18% at 10,548.98. South Korea's Kospi is up by 0.2%, China's Shangai Composite index is gaining by 1.3% and Hong Kong Hang Seng is advancing by 0.1%.
But the stocks in Australia, New Zealand, Singapore and Taiwan remained lower.
The yen declined to a 2-day low of 86.48 against the Swiss franc in Asian deals on Friday. On the downside, 86.7 is seen as the next target level for the Japanese currency. The franc-yen pair closed yesterday's trading at 86.32.
During Asian deals on Friday, the yen slipped to more than a 2-week low of 83.49 against the US dollar. The next downside target level for the yen is seen at 84.4. At yesterday's close, the dollar-yen pair was quoted at 83.32.
The yen that strengthened to a 4-day high of 108.10 against the euro in early Asian deals on Friday at 6:55 pm ET eased thereafter. The euro-yen pair that closed yesterday's trading at 108.35 is now worth 108.50. If the yen weakens further, it may likely target the 109.0 level.
In Asian session on Friday, the yen showed choppy trading against the Australian dollar and the British pound. The yen is currently worth 128.92 against the pound and 82.90 against the aussie, compared to Thursday's close of 128.83 and 82.85, respectively.
The yen fell to a 2-day low of 63.33 against the New Zealand dollar in Asian session on Friday. On the downside, 63.5 is seen as the next target level for the yen. At yesterday's close, the kiwi-yen pair was worth 63.06.
During Asian deals on Friday, the yen weakened against the Canadian dollar. As of now, the yen is worth 83.74 against the loonie, compared to 83.57 hit late New York Thursday. If the yen breaches the 83.8 level, its next target is seen around 84.2.
