Yen Drops on Prospects for Central Banks’ Stimulus; Rand Climbs

The yen fell against all of its 16 most-traded peers except Brazil’s real as investors sought higher-yielding assets amid speculation central banks will step up efforts to spur growth, reducing demand for havens.

The Dollar Index fluctuated before jobs data this week that lenders such as Bank of Tokyo-Mitsubishi UFJ Ltd. said may add to the case for more stimulus by the Federal Reserve. The European Central Bank will cut interest rates amid efforts to curb the region’s debt crisis, a Bloomberg News survey forecast. South Africa’s rand climbed as risk appetite grew, while Brazil’s real slid as the nation’s industrial output fell.