Bets G-20 Will Yen Holds Losses on Endorse BOJ Stimulus

The yen held losses against most major peers on bets Group of 20 finance ministers and central bankers meeting this week will endorse the Bank of Japan’s monetary easing that aims to stoke 2 percent inflation.

Russian Deputy Finance Minister Sergei Storchak said the G-20 probably won’t call for a tapering of stimulus in nations including Japan. The euro traded near a six-week high versus the yen after Greek lawmakers approved austerity measures that clear the way for the next batch of bailout loans. Demand for the dollar was limited after Federal Reserve Chairman Ben S. Bernanke signaled the central bank’s asset purchases, which tend to debase the currency, hinge on economic performance.

The yen was little changed at 99.66 per dollar as of 10:20 a.m. in Tokyo from yesterday, when it lost 0.5 percent. It was little changed at 130.69 per euro from yesterday, when it touched 131.36, the weakest since June 5. The 17-nation euro bought $1.3112 from $1.3125.

(Source: Bloomberg)