Yen’s Slide Stops Short of 100-Per-Dollar Level
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The yen stopped just short of 100 to the dollar, a level it hasn’t reached in four years, as it slid after the Bank of Japan announced unprecedented stimulus measures on April 4 to end 15 years of deflation.
The Japanese currency gained yesterday, paring a second weekly loss, after a technical indicator signaled it had dropped too much, too quickly. The Dollar Index fell for a second week as lower-than-forecast retail sales added to bets the Federal Reserve will maintain stimulus that debases the currency. Data next week may show U.S. inflation slowed. The Australian and New Zealand dollars rose as investors sought higher-yielding assets.