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Yen Declines on Speculation BOJ to Trail Central Banks in Ending Stimulus
The yen fell against all of its major counterparts and reached a six-month low against the dollar on prospects Japan will trail developed nations in ending stimulus as it copes with its biggest-ever earthquake. The euro rose to an almost 11-month high against Japan’s currency before data that may confirm the European economy grew for a sixth quarter. The so-called kiwi dollar rose for a 10th day versus Japan’s currency, the longest stretch since 2005, as traders bet the Reserve Bank of New Zealand will raise interest rates by 42 basis points over the next 12 months.