Yen Strengthens From Four-Month Low on Demand for Safety
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The yen rose from a four-month low against the dollar as disappointing U.S. corporate results and record unemployment in Spain boosted the allure of the relative safety of Japan’s currency.
The Japanese currency still had a five-day loss versus the greenback amid bets the Bank of Japan will increase monetary stimulus next week. South Africa’s rand climbed. Europe’s shared currency dropped after Spanish unemployment data showed a record one in four residents was out of work last quarter.