Yen Rises Second Day as China Manufacturing Slows; Euro Weakens

The yen strengthened for a second day versus the euro and the dollar after an industry report showed Chinese manufacturing expanded at a slower pace, increasing demand for safer assets.

Japan’s currency advanced at least 0.6 percent against all 16 of its major counterparts before euro-area data that economists said will show industrial output in the region slowed for a 21st month. The euro fell as an index of German manufacturing declined more than economists forecast. The New Zealand and Australian dollars declined due to the signs of slowdown in China, their largest trading partner