The yen and the dollar weakened against higher-yielding currencies as stocks rallied, spurring investors to favor riskier assets.
Japan’s currency also fell as a gauge of expected movements in foreign-exchange markets declined to the lowest level since September, signaling a lower risk of fluctuations that can undermine so-called carry trades. South Korea’s won rose the most versus the dollar among the 16 most-active currencies after the government sold bonds overseas for the first time in more than two years to bolster its foreign-exchange reserves. read more
Japan’s currency also fell as a gauge of expected movements in foreign-exchange markets declined to the lowest level since September, signaling a lower risk of fluctuations that can undermine so-called carry trades. South Korea’s won rose the most versus the dollar among the 16 most-active currencies after the government sold bonds overseas for the first time in more than two years to bolster its foreign-exchange reserves. read more
