Yen Jumps Most in Three Weeks on Government Concern; Rand Slides
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The yen gained the most in three weeks against the dollar as Japanese Economy Minister Akira Amari said further losses in the currency would have negative effects after it fell to the lowest since 2008 last week.
Japan’s currency rose versus 15 of its 16 most-traded peers after Amari said yesterday there’s speculation its past strength has “been corrected a lot.” New Zealand’s dollar climbed as Finance Minister Bill English said home prices will pressure the central bank to raise interest rates. South Africa’s rand slid to a four-year low amid bets slowing inflation will give the nation’s central bank room to cut rates.