Yen, Dollar Rise Versus Major Peers as Stocks Fall; Rand Slumps
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The yen and the dollar advanced against all other most-traded currencies as investors sought safety amid falling stocks and fluctuating commodities.
The euro fell after earlier gaining on economic growth data for the region. It lost for a second week against the dollar as concern persisted that Greece will need to restructure its debt. The yen also rose as Japan’s economy and fiscal policy minister, Kaoru Yosano, said its strength resulted from a weaker dollar, not independent gains. South Africa’s rand tumbled the most in a week in 18 months as unemployment increased.