Yen Strengthens as Lawmaker Says Party Will Oppose Iwata
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The yen rose for the first time in five days against the dollar as an opposition lawmaker said his party will oppose Bank of Japan Deputy Governor Nominee Kikuo Iwata, who investors see as endorsing monetary policy easing.
The pound reached the weakest level since June 2010 versus the dollar and the lowest to the Australian currency since 1985 after industrial output unexpectedly declined. Hungary’s currency weakened to a nine-month low against the euro and plunged the most among 31 major currencies as lawmakers passed constitutional changes some European Union members said undermine democracy. The 17-nation currency erased losses earlier against the greenback as oil and gold rallied.