Yen Climbs After China Data as Kuroda Touts Recovery

The yen strengthened versus most of its 16 major peers as a private report showing Chinese manufacturing contracted more than economists estimated last month spurred demand for safer assets.

Japan’s currency touched a two-week high against the dollar as violence in Ukraine spread and after Bank of Japan Governor Haruhiko Kuroda said in an interview with CNBC the economic recovery is on track, damping speculation the central bank will add to monetary stimulus. Brazil’s real fell the most among major dollar counterparts after the central bank reduced the volume of foreign-exchange swap contracts that it offered to roll over, signaling eased support for the currency. Sweden’s krona weakened after a report showed industrial production unexpectedly contracted in March.