The
yen fell against the euro and touched its weakest in more than seven
years against the dollar as Japanese Prime Minister Shinzo Abe called an
early election and suspended a planned sales-tax increase.
Japans
currency slipped against most of its 16 major peers as Abe said he will
dissolve parliament on Nov. 21. The euro rallied as German investor
confidence rose for the first time in 11 months. Russias ruble
strengthened as the tax season approaches. Swedens krona lead a rally
among the 16 major currencies, while New Zealands dollar strengthened
before a dairy auction.
The
yen depreciated 0.9 percent to 146.59 per euro at 3:16 p.m. New York
time, after trading at 146.70, the weakest since October 2008. The
currency reached 117.05 per dollar, matching the weakest level since
October 2007, before trading at 116.98. The 18-nation euro rose 0.7
percent to $1.2532.
Source: Bloomberg
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