Yen Strengthens Versus Most Major Peers as Investors Seek Safety
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The yen rose against most major counterparts as investors sought refuge after data showed China’s export growth collapsed, fueling speculation the global economy is slowing.
Sweden’s krona climbed to the strongest level against the euro since 2000 amid demand for safety. The euro weakened as Germany’s economy ministry said the outlook for faster growth was fading amid the currency bloc’s debt crisis. The Australian dollar fell versus most peers on concern the slowdown in China, its top trading partner, will deepen.