Yen Tumbles Versus Majors After BOJ Easing; Dollar Gains on Data
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The yen fell against all but one of its 16 most-traded counterparts as the Bank of Japan added to its monetary stimulus program amid better-than-forecast U.S. data that renewed appetite for higher-yielding assets.
The Japanese currency declined for a third week against the dollar, touching a six-month low yesterday, after hiring in the U.S. increased more than forecast. Norway’s krone rallied after Norges Bank said it wouldn’t fight currency appreciation. The dollars of New Zealand and Australia gained versus the yen after Chinese manufacturing accelerated. The Dollar Index rose for a second week before the presidential election on Nov. 6.