Yen Advances on Speculation BOJ Easing Is Priced In; Euro Drops
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The yen advanced, extending a rally from a 2 1/2-year low against the dollar, on speculation its slide incorporates any stimulus the Bank of Japan may propose at its next meeting.
Japan’s currency strengthened for a second day against the euro after the Nikkei newspaper reported that Shigeru Ishiba, secretary general of Japan’s ruling Liberal Democratic Party, said a weaker yen may trouble some industries. The euro fell against the greenback, extending yesterday’s drop, after Luxembourg Prime Minister Jean-Claude Juncker said the currency is “dangerously high.” China’s yuan fell, retreating from a 19-year high, after the central bank cut its reference rate.