The
yen rose versus all 16 major peers after the Bank of Japan refrained
from expanding stimulus and said it expects a moderate economic recovery
to continue.The currency was near a three-month high against the greenback as the U.S. yield premium over Japan shrank before the release of minutes from the Federal Reserve��s April meeting. Australia��s dollar held its sharpest loss in two months after consumer confidence dropped and iron ore prices fell to the lowest since September 2012. New Zealand��s kiwi touched the lowest this month after Fonterra Cooperative Group Ltd. said whole-milk powder prices declined for a seventh auction.
The yen gained 0.2 percent to 101.17 per dollar as of 1:38 p.m. in Tokyo from yesterday, when it added 0.2 percent. It touched 101.10 on May 19, the strongest since Feb. 5. Japan��s currency fetched 138.61 per euro from 138.83 yesterday, when it reached 138.55, the highest level since Feb. 7. The 18-nation euro traded unchanged at $1.3702.
Source : Bloomberg
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