The Japanese yen fell against its major counterparts in the Asian session on Tuesday, as most Asian stock markets advanced following the overnight rally in U.S. and on hopes for a coronavirus relief package after House Democrats unveiled a $2.2 trillion plan to extend support to the U.S. economy.

The proposal would offer a lapsed $600 enhanced federal unemployment benefit and another round of $1,200 stimulus checks to Americans.

Democratic presidential nominee Joe Biden and Republican leader Donald Trump are set to face each other for the first of three presidential debates taking place later today.

Polls showed that Biden held a lead over Trump but the he is considered as a worse debater.

Data from the Ministry of Internal Affairs and Communications showed that Tokyo overall consumer prices rose 0.2 percent on year in September.

That was shy of expectations for an increase of 0.3 percent, which would have been unchanged from the August reading.

The yen weakened to a 2-week low of 105.71 against the greenback, 8-day low of 123.44 against the euro and a 1-week low of 114.43 against the franc, from Monday's closing values of 105.45, 123.02 and 114.03, respectively. Next key support for the yen is possibly seen around 108.00 against the greenback, 125 against the euro and 116.5 against the franc.

The yen that ended yesterday's trading at 74.56 against the aussie, 69.09 against the kiwi and 78.87 against the loonie drifted lower to a 6-day low of 74.95, 4-day lows of 69.40 and 79.02, respectively. On the downside, 78.00, 72.00 and 80.00 are likely seen as its next support levels against the aussie, the kiwi and the loonie, respectively.

The yen fell to 135.95 against the pound and held steady thereafter. The yen may test support around the 137.00 mark.

Looking ahead, U.K. mortgage approvals data for August and Eurozone economic confidence index for September will be released in the European session.

At 8.00 am ET, Destatis is scheduled to issue Germany's flash consumer prices for September.

In the New York session, Canada industrial product price index for August, as well as U.S. wholesale inventories and advance goods trade balance for the same month, S&P/Case-Shiller home price index for July and consumer confidence index for September are due out.

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