Asian deals

The US dollar slid to a 7-month low against the Japanese yen and 1-month low versus the British pound during early Asian deals on Friday. Besides, it also plunged against euro and Swiss franc.

Against the European currency, the US dollar edged down during early Asian deals on Friday. At 10:45 pm ET, the dollar touched a low of 1.4614 versus the euro, compared to 1.4583 hit late New York Thursday. The next downside target level for the dollar is seen around 1.457.

During early Asian deals on Friday the yen jumped up against its major counterparts despite a rise in stock prices. 

Friday in Asia, the yen continued to creep higher versus the dollar, jumping to 92.53, compared to 92.66 hit late Thursday in New York. If the yen moves up further, it may test resistance around the 91.9 level.

The yen dropped on Thursday from an early Asian session's new multi-week high against the US dollar. The yen also pared its early Asian session gains against the European currency, the British pound and the Swiss franc.

Against the US dollar, the Japanese yen edged higher to 91.96 during early Asian deals on Thursday. This set the highest point for the yen since July 13, 2009.

During Tuesday Asian deals the yen weakened against European major currencies as a gain in most Asian stocks prompted investors to borrow money from Japan to buy higher-yielding assets.

The yen that closed yesterday's trading at 133.39 against the euro slipped to 133.78 in Asian deals on Tuesday. The next downside target for the yen is seen around the 135 level.

During early Asian deals on Monday the yen dropped against its major counterparts as demand for the safe-haven currencies fell as a result of growing optimism encouraged by the reports on economic recovery.

The yen fell to a 5-day low against the dollar and the pound, 11-day low against the franc and 10-day lows against the aussie, kiwi, loonie and the euro. 

The yen rose against its major counterparts during early Asian deals after government reports showed Japan's recession may be abating, encouraging foreign investors to buy domestic assets in the world's second-biggest economy

Last week the yen closed at 97.50 against the dollar. On Monday it rose to 97.09. The next upside target level for the Japanese currency is seen at 95.8.

On Wednesday in Asia, the yen dropped sharply against its major counterparts after the Bank of Japan's quarterly Tankan survey report showed that sentiment among Japan's largest manufacturers rose in the second quarter for the first time since December 2006, giving investors more confidence to purchase higher-yielding assets. 

On Monday during early European deals dollar extended its Asian session's uptrend against the European majors as a fall in major European stocks prompted investors to seek the safety of the world's most liquid currency.

The dollar, which closed last week's trading at 1.3958 against the euro rose to a 5-day high of 1.3837 during early deals on Monday. The next upside target level for the dollar is seen at 1.375.

During early Asian deals on Monday morning the euro lost ground against its major rivals and dropped to multi-day lows against most of them.

The euro fell to a 5-day low of 0.8444 against the pound around 9:10 pm ET and the pair is presently worth near 0.845. If the euro slips further, support is seen at the 0.843 level. At Friday's close, the euro-pound pair was quoted at 0.8458.

In early deals on Thursday, the U.S. dollar declined against its major counterparts on speculation the global recession is easing, prompted investors to buy riskier assets. 

The dollar was also pressured in the wake of Russia saying it would divert some of its reserves from U.S. Treasuries to IMF bonds, a move that may be highlighted when the world's largest emerging countries meet next week.