The euro rose to the highest in more than four years versus
the yen after a German report showed Europe’s economic recovery may be gaining
momentum, easing speculation the central bank will cut interest rates further.
Australia’s dollar fell against all of its 16 most-traded
peers amid speculation the nation’s central bank will take steps to curb the
currency’s strength. The yen reached a four-month low versus the dollar after
Bank of Japan Governor Haruhiko Kuroda said he will do his utmost to restrict
an increase in long-term yields. Futures traders increased their bets that the
yen will decline against the dollar to the most in six years.
The euro gained 0.7 percent to 137.28 yen at 5 p.m. New
York time after touching 137.25, the highest level since October 2009. The
shared currency rose 0.6 percent to $1.3558 and advanced for a second week. The
dollar added 0.1 percent to 101.27 yen after reaching 101.35 yen, the strongest
since July 8.
The Bloomberg U.S. Dollar Index, which tracks the currency
against 10 major counterparts, fell 0.2 percent to 1,018.56 to pare its weekly
gain to 0.2 percent.
(Source: Bloomberg)