March 19 (Bloomberg) -- The euro fell the most in two weeks against the yen on speculation European policy makers will cut interest rates further as central banks worldwide battle the global financial turmoil.

The European currency declined to 128.94 yen as of 11:35 a.m. in Tokyo, from 129.69 late yesterday in New York. The euro fell to $1.3433 from $1.3474. The yen was at 96.02 per dollar from 96.22.

To contact the reporter on this story: Theresa Barraclough in Tokyo at tbarraclough@bloomberg.net; Ron Harui in Singapore at rharui@bloomberg.net.

Last Updated: March 18, 2009 22:38 EDT