Yen Touches Record High Against Dollar on Europe’s Debt Turmoil

The yen touched a post-World War II high against the dollar and rallied versus most of its other major counterparts as Europe’s debt turmoil spurred demand for a refuge before tomorrow’s summits.

The Canadian dollar slid for the first time in four days versus the greenback after the Bank Canada cut its growth outlook. The greenback rose against the South African rand and Mexican peso as a drop in U.S. consumer confidence buoyed Treasuries. The yen pared its gain versus the dollar as Nikkei reported the Bank of Japan will consider more monetary easing.