The euro fell against a majority of its most-traded peers amid concern policy makers aren’t doing enough to prevent Europe’s sovereign debt crisis from worsening as the global economic recovery falters. The yen traded at almost a post-war record high against the dollar amid speculation the Bank of Japan may intervene to curb the currency’s strength. The 17-nation euro weakened as Group of 20 finance ministers pledged to address risks in the global economy and Moody’s Investors Service downgraded the debt ratings of eight Greek banks. The South Korean won rose after the government said it may intervene to stem its decline. “This huge level of uncertainty is very euro-centric,” said Greg Salvaggio, senior vice president of capital markets at currency-trading firm Tempus Consulting Inc in Washington. “There is great interest to sell the euro on any kind of rally and investors are looking to cash and Treasuries.” The euro was little changed at $1.3482 at 8:54 a.m. in New York, after gaining as much as 0.8 percent. The yen rose 0.1 percent to 76.18 per dollar. The Japanese currency reached a record high of 75.95 on Aug. 19. To contact the reporter on this story: Allison Bennett in New York at abennett23@bloomberg.net; To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

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