Yen Gains for 4th Day as Europe Debt Concern Spurs Safety Demand

The yen rose for a fourth day against the euro and the dollar as concern Europe’s debt crisis will damp economic growth spurred demand for safer assets.

The euro was little changed against the dollar even as Italian bonds rallied after the nation sold bills at lower rates than the previous sale. The yen also gained after a U.S. Treasury report criticized the nation for intervening in the currency market and as economic reports signaled slowing economic growth last month. The New Zealand and Australian dollars rose as stocks and commodities advanced.