Yen Falls to 6-Month Low as Japan’s Abe Calls for Easing
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The yen slumped to the lowest in more than six months against the dollar on speculation Japanese elections next month will hand power to an opposition party that advocates more aggressive monetary easing.
The dollar declined against the euro for a second day as U.S. jobless claims rose and a regional manufacturing index decreased amid the devastation left by Hurricane Sandy. Japan’s currency weakened against all of its 16 most-traded counterparts on speculation the vote will favor Shinzo Abe, who called for the central bank to provide unlimited stimulus. The pound fell to a 10-week low versus the dollar as data showed U.K. retail sales slid.