The yen and the dollar fell against higher-yielding currencies as stocks gained before a U.S. report that economists said will show an index of leading economic indicators rose, damping demand for safer assets.
The euro advanced to a two-week high against the dollar before a French report this week that may show consumer spending rebounded last month, signaling the worst of the global recession is over.
The Canadian dollar registered its first five-day increase since May, ending a six-week losing streak, as investors raised bets on higher-yielding assets on speculation the global recession is easing. Canada’s currency, appreciated to C$1.1134 per U.S. dollar in Toronto, from C$1.1638 on July 10. Its last weekly gain, a 2.6 percent increase, was posted May 29. One Canadian dollar buys 89.81 U.S. cents.
The yen declined to 134.10 per euro as of 7:40 a.m. in London from 132.85 in New York last week, after earlier dropping to 134.34, matching its low on July 6. The dollar fell to $1.4160 per euro from $1.4102, after slipping to $1.4181, the weakest level since July 1. Japan’s currency slid to 94.75 versus the dollar from 94.19.
Crude oil rose for a fourth day on speculation demand will increase as stock markets advanced and Chinese refiners boosted processing to a 16-month high. Crude oil for August delivery rose as much as 73 cents, or 1.2 percent, to $64.29 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Prices were at $64.25 at 2:10 p.m. Singapore time. Oil has gained 44 percent this year.
