Economics
Dollar Advances Against Yen on Policy Divergence; Real Rises
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The dollar rose against the yen, extending its biggest weekly advance this year, amid speculation the Federal Reserve will keep cutting stimulus while the Bank of Japan maintains its bond-purchase plan.
The U.S. currency advanced after the Group of 20 backed the normalization of monetary policy in advanced economies, according to a draft communique seen by Bloomberg News. The 18-nation euro rallied as Ukranian leaders reached a peace agreement and lawmakers voted to free jailed ex-Prime Minister Yulia Tymoshenko. The real climbed as Brazil reported higher-than-forecast foreign investment a day after the government pledged to reduce spending.