Yen Declines to 27-Month Low as Abe Pushes for Stimulus
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The yen fell against the dollar to the lowest level since September 2010 as Japan’s Prime Minister Shinzo Abe said he would push for “bold monetary easing.”
The Japanese currency slid versus all its major peers as minutes of the Bank of Japan’s November meeting showed that a board member suggested conducting open-ended asset purchases. Brazil’s real gained the most among major currencies as the central bank intervened to stem declines. The Dollar Index fell as House Speaker John Boehner said the Senate must act on legislation to avert the so-called fiscal cliff.