Yen Declines as G-20 Gives Japan Leeway on Stimulus; Pound Falls

The yen fell for a fourth day against the dollar after the Group of 20 gave Japan leeway to reflate its economy by indicating the nation’s monetary stimulus plan doesn’t contravene a pact to avoid currency devaluations.

Japan’s currency dropped at least 1 percent versus all of its 16 most-traded peers amid bets on more of the quantitative-easing stimulus from the Bank of Japan that has helped the currency slide to a four-year low versus the greenback. Sterling extended a drop versus the greenback after Fitch Ratings cut the U.K.’s credit grade by one level. South Korea’s won climbed.