BLBG:Yen Falls Against Peers as Asian Stocks Advance, Azumi Speaks on Currency
The yen fell against all its major peers as Asian stocks rallied a second day and on prospects Japanese policy makers will do more to stem currency gains.
The yen fell to an almost four-week low against the dollar as Japanese Finance Minister Jun Azumi said in parliament he was continuing efforts to keep currency levels appropriate. The euro was near an eight-week low against the dollar before Italy and Belgium auction bonds today amid concern the prolonged debt crisis in Europe is spreading to bigger nations.
The yen slid 0.3 percent to 78.19 per dollar as of 10:40 a.m. in Tokyo and reached 78.29, the weakest level since Nov. 2. The euro was little changed at $1.3315 after touching $1.3212 on Nov. 25, the lowest since Oct. 4.
The MSCI Asia Pacific Index of shares gained 0.5 percent.
To contact the reporter on this story: Kristine Aquino in Singapore at kaquino1@bloomberg.net
To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net
