The yen rose to a four-week high against the euro after China took action to curb loan growth, fueling concern that the global recovery will sputter and fanning demand for the relative safety of Japan’s currency.
The yen gained the most against the South Korean won and the Australian dollar as the MSCI Asia Pacific Index fell 0.4 percent. The pound climbed to a six-week high against the dollar after Kraft Foods Inc. said it’s completing the terms of a recommended offer for U.K. chocolate maker Cadbury Plc. Full Story
