The yen rose the most in seven weeks versus the dollar on speculation the currency’s decline has gone too far, too fast with a report showing Japan’s current-account surplus was twice what economists forecast. The Japanese currency strengthened against all of its 31 major counterparts. A gauge of the dollar slipped following the biggest weekly rally in more than a year. Emerging-market currencies slumped, led by South Africa’s rand and Russia’s ruble, after Chinese imports unexpectedly fell in November. “We’re seeing a lot of positions squaring and profit-taking -- that’s what’s happening in dollar-yen,” said Sireen ... (full story)