Yen Weakens Versus Dollar Amid Wagers G-20 Won’t Criticize Japan
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The yen fell versus the dollar the first time in four days after a Group of 20 official said there isn’t a plan for a statement by the nations to echo a Group of Seven pledge to avoid using exchange rates as policy targets.
The Japanese currency, which has lost 7.2 percent this year versus the dollar as Japan seeks to spur growth, declined for the week amid bets G-20 finance chiefs won’t publicly criticize the Asian nation. The latest draft of a statement to be released tomorrow will urge members to avoid competitive devaluations and let exchange rates be set by markets, said the official, who sought anonymity because the document isn’t public.