Yen Jumps on Commodity Currencies to its Highest in Two Months

Commodity currencies slid to multi-week lows on Wednesday on the back of weakening raw material prices with the heaviest selling against the yen, which surged to its highest in two months as short sellers bailed out ahead of a central bank meeting. The Aussie dollar fell 0.5% and at $0.6586 was only 10 pips from chart support levels. It fell more than 1% to 101.79 yen. The euro held at $1.0842 in Asia trade and sterling, was bought at $1.2884. Dollar/yen fell nearly 0.6 % to 155.55 overnight and traded nearby at 155.36 early in the Asia session. Source: Qatar News Agency