Economics
Yen Tumbles After Minister Says Its Slide Isn’t Over Yet
This article is for subscribers only.
The yen weakened for the first time in four days versus the dollar after Deputy Economy Minister Yasutoshi Nishimura said its decline isn’t over and a level of 100 versus the U.S. currency wouldn’t be a concern.
The Japanese currency dropped against all of its 16 most-traded peers after a Chinese report showed manufacturing expanded at the fastest in two years, reducing demand for the yen as a refuge. The euro gained after contraction in European manufacturing and services slowed, and Mexico’s peso rose amid stronger-than-forecast U.S. jobs data.