Yen Falls to Lowest Since 2010 on Stimulus; Euro Gains
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The yen slid to the weakest since June 2010 versus the dollar after Japanese Prime Minister Shinzo Abe’s government said it will spend 10.3 trillion yen ($116 billion) in new stimulus efforts that may weaken the currency.
The euro climbed after Goldman Sachs Group Inc. strategist Thomas Stolper wrote in a note that the shared currency may rise to a 14-month high. The yen declined for a ninth week, the longest losing streak since 1989, on bets the Bank of Japan is also preparing measures to spur growth. South Korea’s won gained to the strongest level against the dollar since August 2011 after the central bank kept interest rates unchanged.