Yen Weakens to 20-Month Low on Abe BOJ Pledge; Euro Drops
This article is for subscribers only.
The yen fell to a 20-month low versus the dollar after Japan’s incoming Prime Minister Shinzo Abe said he will consider changing the law governing the central bank unless it boosts its inflation target.
The 17-nation euro erased gains against the greenback as Italian Prime Minister Mario Monti said he would consider being the candidate for a coalition backing his economic agenda, even after saying he won’t run in the country’s February elections. Mexico’s peso is the biggest winner against the dollar this year, while the Brazilian real has lost the most.