Investing.com - The euro fell against the yen on Monday as fears that the European debt crisis is intensifying in Spain prompted investors to run to safe-haven currencies, which include the yen.
In Asian trading on Monday, EUR/JPY hit 105.36, down 0.44%, up from a low of 105.29 and off a high of 105.82.
The pair sought to test support at 105.29, the earlier low, and resistance at 107.09, Friday's high.
Rising yields in Spanish government bond auctions have many worried Spain may succumb to the European debt crisis, as investors demand more in return for their money on concerns Madrid may be running into financial problems.
Reports that European officials are prepared to ask the International Monetary Fund to add to its financial arsenal to contain the crisis rattled investors' nerves as well.
Recent Chinese growth figures continued to spook investors as well on Monday.
The country's gross domestic product grew 8.1% in the first quarter, below expectations for 8.3% growth and well beneath the fourth quarter's 8.9% expansion.
Over the weekend, the People’s Bank of China widened the range in which the yuan trades against the greenback for the first time since 2007, reflecting Beijing is viewing its future with more confidence, although Spanish jitters served as the pair's chief steering current.
The European debt crisis roiled markets earlier this year when the hot zone was in Greece, and now that the much larger Spanish economy is in the cross hairs, investors continued to trade on edge Monday.
The euro was down against the pound and flat against the Swiss franc, with EUR/GBP down 0.34% at 0.8224 and EUR/CHF trading at 1.2026.
U.S. data may move the pair later Monday, when figures on the country's retail sales, a key gauge to overall economic activity, hits the wire.
In Europe, trade balance figures are due out, while in Japan, Bank of Japan (BOJ) Governor Masaaki Shirakawa is due to speak in public.
In Asian trading on Monday, EUR/JPY hit 105.36, down 0.44%, up from a low of 105.29 and off a high of 105.82.
The pair sought to test support at 105.29, the earlier low, and resistance at 107.09, Friday's high.
Rising yields in Spanish government bond auctions have many worried Spain may succumb to the European debt crisis, as investors demand more in return for their money on concerns Madrid may be running into financial problems.
Reports that European officials are prepared to ask the International Monetary Fund to add to its financial arsenal to contain the crisis rattled investors' nerves as well.
Recent Chinese growth figures continued to spook investors as well on Monday.
The country's gross domestic product grew 8.1% in the first quarter, below expectations for 8.3% growth and well beneath the fourth quarter's 8.9% expansion.
Over the weekend, the People’s Bank of China widened the range in which the yuan trades against the greenback for the first time since 2007, reflecting Beijing is viewing its future with more confidence, although Spanish jitters served as the pair's chief steering current.
The European debt crisis roiled markets earlier this year when the hot zone was in Greece, and now that the much larger Spanish economy is in the cross hairs, investors continued to trade on edge Monday.
The euro was down against the pound and flat against the Swiss franc, with EUR/GBP down 0.34% at 0.8224 and EUR/CHF trading at 1.2026.
U.S. data may move the pair later Monday, when figures on the country's retail sales, a key gauge to overall economic activity, hits the wire.
In Europe, trade balance figures are due out, while in Japan, Bank of Japan (BOJ) Governor Masaaki Shirakawa is due to speak in public.