The yen rose as traders scaled back bets on higher-yielding currencies and stocks snapped three days of gains, fueling demand for the Japanese currency as a haven.
The yen advanced most against the Swedish krona and South African rand as Standard Chartered Plc said it plans to raise $1.69 billion in a share sale and Yamaha Motor Co., the world’s second-largest maker of motor bikes, forecast a wider loss. The euro weakened versus the dollar after a report showed producer prices fell at a record pace. The Australian dollar fell after the Reserve Bank of Australia kept interest rates at the lowest level in half a century. The yen also gained on speculation Japanese exporters are taking advantage of the currency’s decline against the euro and the dollar to bring home income from abroad. The yen has dropped 7.1 percent compared with the euro this year and 4.2 percent versus the dollar.
The yen strengthened to 136.38 per euro as of 6:24 a.m. in New York, from 137.31 yesterday, and to 94.71 per dollar, from 95.26. The euro traded at $1.4396, from $1.4412 yesterday, when it rose to $1.4445, the strongest since Dec. 18.
Europe's Dow Jones Stoxx 600 Index fell 0.8 percent after trading at its highest level relative to profits since 2003. The MSCI World Index declined 0.2 percent.
Here are yesterday's positions.
