Yen Drops Amid Stimulus Bets in Longest Slump Since 1989
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The yen slid versus the dollar in its longest weekly losing streak in almost a quarter-century on speculation Japanese policy makers were preparing measures to stimulate the economy that may debase the currency.
The euro rose against all of its 16 most-traded peers as European Central Bank President Mario Draghi said the region’s economy should gradually recover. South Africa’s rand tumbled as Fitch Ratings downgraded the nation. The yen touched a 30-month low versus the dollar after Japan’s government said it will spend 10.3 trillion yen ($116 billion) in new stimulus efforts. The Bank of Japan meets Jan. 21-22.