The yen fell for a fourth day versus the dollar, the longest losing streak in more than two months.
The euro rose versus the majority of its most-traded counter parties as Greece won a second international bailout and its government submitted debt-swap and austerity measures to the country’s parliament for approval. Gains in the dollar were limited as U.S. stocks rallied to the highest levels since 2008 before retreating. The yen has declined against all its major peers since Japan’s central bank increased its asset-purchase fund to 30 trillion yen last week.
The yen fell for a fourth day versus the dollar, the longest losing streak in more than two months, as investors sold the Japanese currency to buy higher-yielding assets
The kiwi has risen 10.4 percent in the past three months, the best performance among 10 currencies tracked by Bloomberg Correlation-Weighted Indexes. The Aussie has gained 6.8 percent for the next best performance in the period. The Australian and New Zealand dollars were worst performers today among the U.S. currency’s 16 most-traded peers tracked by Bloomberg. Both countries, like Canada, rely heavily on exporting raw materials for growth. The loonie fell versus nine counter parties.
Canada’s dollar weakened versus its U.S. counterpart after data showed retail sales fell in December and currencies of commodity-exporting nations slid on concern a bailout hasn’t resolved Greece’s long-term debt crisis.
The Canadian currency fell to within half a cent of parity with the greenback, which fluctuated against the euro on concerns that Europe will require further political measures in order to resolve its fiscal turmoil. U.S. stocks were little changed, and global stocks declined.
