Yen Advances Amid Bets BOJ Action Priced In; Euro Falls
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The yen gained for a second day versus the dollar, extending a rally from a 29-month low, amid ebbing risk appetite and speculation the currency’s three-month slide already incorporates proposed stimulus measures.
The euro dropped for the first time in three days before the European Central Bank meets this week. The yen gained versus all of its 16 most-traded peers even as Finance Minister Taro Aso said Japan will buy euro-denominated sovereign debt to help weaken the currency. Stocks fell. Sweden’s krona declined after minutes of the central bank’s December meeting showed two policy makers considered a deeper interest-rate cut.