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.
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