Yen, Dollar Rise on Speculation Economic Recovery Is Sputtering

The yen and the dollar gained against most major counterparts as signs the global economic recovery is slowing fueled demand for the safest currencies.

The euro rose against the greenback as traders pared bets on its decline to lower the risk of losses in their portfolios. The yen, whose one-month volatility was the second-lowest among 10 developed nations, remained the top performer among its 16 most-traded peers even after data showed U.S. jobless claims declined last week. The Federal Reserve said yesterday financial conditions have become “less supportive” of growth.