Yen, Dollar Slide Against Higher-Yielding Currencies; Euro Gains
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The yen and dollar slid against currencies of commodity-exporting nations including New Zealand and South Africa as investors sought higher-yielding assets and gold and U.S. stocks gained.
Japan’s currency dropped versus all of its 16 most-traded peers as investors bet a rally yesterday amid demand for a haven was excessive. The euro climbed to a seven-week high versus the greenback as two regional Federal Reserve Bank presidents said the U.S. still needs monetary stimulus. Mexico’s peso gained versus all of its major counterparts.