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Yen Falls to 10-Month Low Versus Euro on Central Bank Outlooks

The yen fell to the lowest level in 10 months against the euro on speculation central banks in Europe and the U.S. are closer to removing stimulus as the global economy recovers.

Japan’s currency weakened against all of its major counterparts as St. Louis Federal Reserve President James Bullard said signs of an improving economy may lead the central bank to curtail debt buying. New Zealand’s dollar was the top currency against the yen after posting its first trade surplus in eight months. Brazil’s real was the second-best performer even as the country imposed a tax designed to stem gains.