Yen Weakens Second Day Versus Dollar Before Fed; Real Tumbles
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The yen weakened for a second day against the dollar as the Federal Reserve holds a two-day meeting that may provide more information about when U.S. policy makers will start to reduce bond purchases.
Japan’s currency pared its gain this month after the nation’s central bank estimated the current-account balance increased to a record amid unprecedented monetary stimulus. The real touched a four-year low, prompting the Brazilian central bank to intervene for a second straight day as a report showed higher-than-forecast inflation. The Swiss franc advanced versus all of its 16 major peers.