Yen Gains to Six-Week High Versus Euro on Growth Outlook

The yen climbed to the strongest level in six weeks against the euro and gained versus all its most-traded counterparts as signs global growth is slowing underpinned demand for the relative safety of the currency.

The dollar rose versus most major peers as the euro slid below $1.22 for the first time since July 2010 and the pound dropped on concern the European crisis remains unresolved. The Bank of Japan refrained from expanding stimulus, adding to haven demand. The Australian dollar tumbled after employers cut jobs, while Canada’s currency erased losses as crude oil, the nation’s biggest export, ended a retreat.