Investing.com - The U.S. dollar slipped against the yen on Thursday, as sustained concerns over Italy's deepening debt woes added to fears over the financial crisis in the euro zone, boosting demand for the safe haven yen.
USD/JPY hit 77.62 during late Asian trade, the daily low; the pair subsequently consolidated at 77.62, declining 0.24%.
The pair was likely to find support at 77.13, the low of September 8 and resistance at 78.26, the high of November 4.
Italy's ten-year bond yields closed at a euro-era high of 7.25% on Wednesday, weighing on market sentiment as Prime Minister Silvio Berlusconi's promised resignation failed to convince investors that his successor will be able to slash the country's soaring debt.
Meanwhile, Greek leaders were still struggling determine who will head the new coalition government.
European Commission President Jose Manuel Barroso urged European Union member states to "unite or face irrelevance" in the face of the increasingly desperate situations in Italy and Greece.
Earlier Thursday, government data showed that core machinery orders in Japan declined more-than-expected in September, falling 8.2% after a 11.0% increase the previous month.
Analysts had expected core machinery orders to fall 7.3% in September.
Elsewhere, the yen was up against the euro with EUR/JPY edging down 0.20%, to hit 105.17.
Later in the day, Italy was to auction EUR5 billion in one-year Treasury bills. In addition, the U.S. was to release official data on jobless claims as well as a report on the trade balance.
USD/JPY hit 77.62 during late Asian trade, the daily low; the pair subsequently consolidated at 77.62, declining 0.24%.
The pair was likely to find support at 77.13, the low of September 8 and resistance at 78.26, the high of November 4.
Italy's ten-year bond yields closed at a euro-era high of 7.25% on Wednesday, weighing on market sentiment as Prime Minister Silvio Berlusconi's promised resignation failed to convince investors that his successor will be able to slash the country's soaring debt.
Meanwhile, Greek leaders were still struggling determine who will head the new coalition government.
European Commission President Jose Manuel Barroso urged European Union member states to "unite or face irrelevance" in the face of the increasingly desperate situations in Italy and Greece.
Earlier Thursday, government data showed that core machinery orders in Japan declined more-than-expected in September, falling 8.2% after a 11.0% increase the previous month.
Analysts had expected core machinery orders to fall 7.3% in September.
Elsewhere, the yen was up against the euro with EUR/JPY edging down 0.20%, to hit 105.17.
Later in the day, Italy was to auction EUR5 billion in one-year Treasury bills. In addition, the U.S. was to release official data on jobless claims as well as a report on the trade balance.