Yen Slides to Lowest Since 2010 Amid Bets on BOJ; Euro Advances
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The yen weakened beyond 90 to the dollar for the first time in 31 months amid speculation the currency will slide further as the Bank of Japan and the government work aggressively to spur economic growth.
The euro gained versus the majority of its most-traded peers as Spain’s borrowing costs fell at a 4.5 billion-euro ($6 billion) sale of bonds, underscoring increased confidence in European debt markets. The Swiss franc dropped. The Japanese currency continued its longest stretch of weekly losses since 1989 amid bets the BOJ will decide to conduct open-ended asset buying to stoke inflation. The central bank meets Jan. 21-22.