Yen Drops as Japanese-Manufacturer Optimism Rises; Aussie Climbs

The yen fell to a the lowest in more than three weeks against the dollar as the central bank’s Tankan survey showed large manufacturers were the most optimistic in two years, damping demand for safety.

Japan’s currency slid versus most of its major peers as global stocks rose. The dollar briefly extended gains versus the yen after a gauge of U.S. manufacturing rose more than forecast. The euro appreciated after manufacturing in the currency bloc shrank less than forecast. Australia’s dollar rallied from the lowest level in almost three years.