Yen, Franc Fall on Concern Central Banks May Act; Dollar Gains
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The yen weakened from almost its postwar record against the dollar and the Swiss franc tumbled amid speculation policy makers in both countries will seek to curb gains in their currencies that are hurting exporters.
The dollar gained versus the euro as stocks pared advances, while the New Zealand dollar and Swedish krona rose versus all of their most-traded peers. The yen dropped the most in two weeks after Japanese Finance Minister Yoshihiko Noda said he’s ready to take decisive steps to stem its strength. Most Swiss support intervention by their central bank to stop gains in the franc, the newspaper SonntagsZeitung reported yesterday.