Currencies News
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The yen declined against most its major counterparts on speculation the Bank of Japan will add to stimulus measures this week to support growth and weaken the nation’s foreign-exchange rates.
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The euro has weathered the worst financial crisis since the Great Depression, bailouts of Greece, Ireland and Portugal, and falling interest rates. Now, investors are betting like never before that a Greek exit would be too much to keep the 17-nation currency above its long-term average.
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Mexico’s peso rose after China’s government said it will focus on bolstering growth, fueling confidence in global expansion after the Latin American’s country’s policy makers boosted their economic forecasts.
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Stephen Stanley, chief economist at Pierpont Securities LLC, has derided the Federal Reserve for downplaying improvement in the U.S. economy. Yet his 2.6 percent forecast for growth this year is below the midpoint in the central bank’s projection of 2.4 percent to 2.9 percent.
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