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The yen weakened, nearing the 100 per dollar level not seen since 2009, after the Bank of Japan’s monetary stimulus policies were unopposed by the Group of 20.
Japan’s currency slid against most major peers after BOJ Governor Haruhiko Kuroda, who oversees his second policy meeting this week, said he was emboldened to press ahead with a campaign to defeat deflation.
The euro rose versus the greenback before Giorgio Napolitano is sworn in to a second term as Italian president. In Italy, Napolitano could begin consultations on a new government as soon as tomorrow. The resignation of Democratic Party leader Pier Luigi Bersani increases the chances Napolitano can convince the remnants of Bersani’s Democrats to join a coalition with Silvio Berlusconi’s People of Liberty party and end a stalemate that’s left Italy without a new government eight weeks after elections.
The Australian and New Zealand dollars rallied along with Asian stocks.
EUR / USD: yesterday the pair rose to $ 1.3085
GBP / USD: yesterday the pair rose to $ 1.5245.
USD / JPY: during the Asian session, the pair rose to Y99.90.
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