Yen Falls Versus Euro as Aso Says G-7 Accepts Japan Policy Goal

The yen weakened for a second day against the euro after Japanese Finance Minister Taro Aso said a statement from the Group-of-Seven nations acknowledged the country isn’t targeting exchange rates with its monetary policy.

The yen erased gains of as much as 0.5 percent versus the dollar as the release of the G-7 statement damped speculation the major industrial nations would indirectly criticize Japan for introducing measures that weakened its currency. The euro rose versus all except two of its 16 major counterparts after Luxembourg Prime Minister Jean-Claude Juncker said there was no optimal rate for the common currency. The pound declined on speculation the central bank will cut growth forecasts tomorrow.