Skip to content
Subscriber Only

Yen Falls to 94 Per Dollar for 1st Time Since 2010 on BOJ

The yen weakened to 94 per dollar for the first time since May 2010 on speculation Japan’s government will hasten the selection of a new central bank chief to take further steps to end deflation.

Japan’s currency added to yesterday’s biggest drop versus the euro in more than a week after Bank of Japan Governor Masaaki Shirakawa said he will step down on March 19, almost three weeks before his term is due to end. Demand for the 17-nation euro was supported on prospects the European Central Bank will refrain from easing monetary policy tomorrow. Australia’s dollar slid after data showed the nation’s retail sales unexpectedly fell in December.