TOKYO (dpa-AFX) - The Japanese yen recovered from recent downward trading against the US dollar during late New York trading on Tuesday, ahead of Japan's industrial production, capacity utilization, machine tool orders and BSI large manufacturing industry reports in the upcoming Asian session.
During Asian trading on Tuesday, the yen edged up against its US counterpart and hit a 4-day high of 81.98 by about 1:35 am ET, while the Bank of Japan decided to expand its loan scheme aimed at supporting economic growth by JPY 2 trillion following the conclusion of its March monetary policy meeting. At the same time, the central bank kept its monetary policy unchanged.
After hitting a multi-day high in Asian session, the yen reversed its direction against the greenback during European trading, today. The pair closed Tuesday's European session at 82.74.
Extending European session's weakness, the Japanese currency declined further versus the dollar in New York deals today. The yen that fell to a new multi-month low of 83.10 against the buck at 3:15 pm ET, edged up the and currently trading near 82.90.
In North American session, the Federal Reserve announced that it kept its benchmark interest rate at effectively zero.
Copyright RTT News/dpa-AFX
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