Yen Weakens Versus Peers on Bets Japan May Escape G-20 Criticism

Yen Weakens Versus Peers on Bets Japan May Escape G-20 Criticism

Bloomberg (17/4) - The yen fell for a second day against all 16 of its major peers as investors speculated Japan will escape censure at a Group of 20 meeting this week over monetary policies that have weakened it currency. The yen continued a reversal from its biggest twoday rally versus the dollar in almost three years as a gauge of U.S. stock market volatility fell the most this year, sapping demand for the Japanese currency as a haven. The British pound remained weaker against the euro ahead of minutes from this month’s Bank of England policy meeting. The yen fell 0.5 percent to 98.05 per dollar as of 10:03 a.m. in Tokyo, extending a 0.8 percent decline from yesterday. It rallied 3 percent in the previous two sessions before that, the biggest gainsince May 6, 2010. Japan’s currency lost 0.7 percent to 129.37 per euro. The euro was little changed at $1.3183 G-20 finance ministers and central bankers meet for two days from tomorrow in Washington, ahead of weekend talks of the International Monetary Fund and World Bank. At their last meeting in February, they signaled that Japan could stimulate its stagnant economy as long as policy makes refrained from publicly advocating a sliding yen.