May 6 (Bloomberg) -- The yen and the dollar rose against the euro on concern U.S. regulators will say Bank of America Corp. needs $34 billion in new capital, boosting demand for the relative safety of the currencies.
Japan’s currency climbed versus the greenback by the most in more than a week and gained against all 10 major Asian currencies. Bank of America faces the largest need for new capital among the 19 banks reviewed, according to people familiar with the matter. The euro fell the most in more than a week against the yen on concern the European Central Bank tomorrow will cut interest rates and buy debt to stem the slump.
Japan’s currency climbed versus the greenback by the most in more than a week and gained against all 10 major Asian currencies. Bank of America faces the largest need for new capital among the 19 banks reviewed, according to people familiar with the matter. The euro fell the most in more than a week against the yen on concern the European Central Bank tomorrow will cut interest rates and buy debt to stem the slump.
The yen rose 0.7 percent, the most since April 24, to 98.10 per dollar as of 6:05 a.m. in London from 98.82 yesterday in New York. Japan’s currency climbed 1.2 percent, the most since April 27, to 130.13 per euro from 131.73 in New York yesterday. The dollar advanced to $1.3262 per euro from $1.3330. read more
