The yen fell to the lowest in a week against the euro as gains in Asian stocks and speculation policy makers globally will add to measures supporting growth damped demand for haven assets.
Japan’s currency dropped versus all except two of its 16 major counterparts before Bank of Japan Governor Haruhiko Kuroda speaks at a conference tomorrow. The Australian and New Zealand dollars climbed, paring declines this month. The euro was set for its biggest monthly drop since January after European Central Bank President Mario Draghi signaled yesterday policy makers are ready to expand stimulus should inflation slow. The dollar remained lower versus most peers before data today forecast to show durable goods orders fell.
“The BOJ is still more inclined for easing,” said Janu Chan, an economist at St. George Bank Ltd. in Sydney. “If global risk appetite and the global economy continue to improve, the risk is that the yen will weaken.”
The yen lost 0.1 percent to 139.30 per euro at 11:17 a.m. in Tokyo from yesterday, after touching 139.37, the weakest level since May 16. It was unchanged at 101.94 per dollar in New York, when it touched 102.05, the weakest since May 15. The euro gained 0.1 percent to $1.3665 after falling to as low as $1.3615 yesterday, a level unseen since Feb. 13.
Australia’s dollar rose 0.2 percent to 92.56 U.S. cents. New Zealand’s currency gained 0.2 percent to 85.69 U.S. cents.
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