Yen Declines as Stocks Advance on Fed Outlook; Aussie Weakens The yen weakened as Asian stocks and European equity futures advanced amid waning speculation that the Federal Reserve will reduce its monetary stimulus. Japan’s currency depreciated beyond 100 per dollar. The Dollar Index gained before an industry report tomorrow that economists said will show the pace of hiring in the world’s largest economy quickened in May. The Australian dollar fell against all 16 of its major counterparts after the Reserve Bank said the inflation outlook provided some scope for further monetary easing. The yen declined 0.7 percent to 100.23 per dollar as of 7:39 a.m. London time after appreciating to 98.87 yesterday, the strongest since May 9. Japan’s currency dropped 0.6 percent to 130.86 per euro. The euro was little changed at $1.3054.
Posted on: Tue, 04 Jun 2013 14:03:23 +0000
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