Yen Maintains Loss as Global Recovery Signs Sap Refuge Demand
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The yen maintained losses against most of its major counterparts as signs the global economic recovery is picking up supported stocks and commodities, damping demand for Japan’s currency as a refuge.
The dollar snapped a two-day loss against the euro before data forecast to show initial jobless claims dropped and retail sales rose. The Australian dollar pared gains after China said today that inflation surpassed its target level for a fourth month, spurring expectations the nation will take more measures to cool growth. South Korea’s won surged after a report showed the nation’s unemployment rate fell to a three-month low.