BLBG: Yen, Franc Weaken Against Dollar as Stocks Rebound; BOJ Pumps In More Cash
Japan’s yen weakened against the dollar as the nation’s central bank pumped more funds into the financial system, boosting Asian stock markets and damping demand for the safest assets.
The yen depreciated against all but one of its 16 most- actively traded counterparts as the Nikkei 225 Index rose for the first day in five, gaining 5.7 percent. The Bank of Japan added 5 trillion yen ($62 billion) in one-day operations.
The yen declined 0.3 percent against the dollar to 80.92 as of 8:04 a.m. in London. Switzerland’s franc depreciated 0.2 percent to 91.85 centimes per dollar.
The euro snapped a three-day advance, declining 0.2 percent to $1.3969.
To contact the reporter on this story: Keith Jenkins in London at kjenkins3@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net