Yen Climbs on Speculation Bank of Japan Moves Won’t Curb Gain
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The yen rose against all 16 of its most-traded counterparts on speculation the Bank of Japan’s decision to increase credit-easing measures won’t be enough to weaken it from near a 15-year high.
The Japanese currency headed for a fourth straight monthly advance versus the dollar even as Prime Minister Naoto Kan said the nation is preparing a 920 billion yen ($10.8 billion) stimulus plan and the central bank added 10 trillion yen in liquidity injections. The dollar and Swiss franc rose versus most major counterparts as U.S. stocks dropped, fueling demand for safer assets.