Yen Weakens on Outlook for Further BOJ Stimulus; Aussie Advances
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The yen fell against all of its 16 major counterparts on speculation the biggest gain in three years yesterday was too rapid amid forecasts for further monetary stimulus from the Bank of Japan.
Japan’s currency weakened for the third time in four days against the dollar after a government report showed machine orders dropped more than economists forecast. The U.S. currency gained the most this month versus the euro before a report tomorrow projected to show retail sales increased. Australia’s currency climbed from almost a three-year low after consumer confidence increased.