The yen weakened, falling toward 100 per dollar for the first time since April 2009, after Bank of Japan Governor Haruhiko Kuroda said he was emboldened to press ahead with a campaign to defeat deflation.
Japan’s currency dropped against 14 of its 16 major counterparts after the Group of 20 offered no opposition to the central bank’s monetary stimulus policies at a meeting last week in Washington. Sweden’s krona strengthened after Riksbank Deputy Governor Lars E.O. Svensson said he will leave the central bank after failing to get support for deeper interest-rate cuts. The euro rose for a third day versus the yen after Giorgio Napolitano was re-elected to a second term as Italian president.
The krona appreciated against all 16 of its major counterparts after Svensson said he would step down when his term expires next month.