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Yen, Dollar Drop as Stock Gains, U.S. Growth Damp Demand for Haven Assets

Posted by Forexsq 94 days ago (http://www.bloomberg.com)
img Forexsq.com - Forex News - The yen fell to a three-month low against the dollar as stocks advanced and signs of growth in the U.S. economy damped demand for haven assets.
The dollar declined against higher-yielding peers before the release of an index of U.S. leading indicators that’s forecast to show a fourth month of gains. Norway’s krone rose even after its central bank said it is monitoring the currency. The euro headed for a weekly decline against 13 of its 16 major counterparts as Greece struggled to seal a second bailout, with the region’s finance ministers set to meet Feb. 20.

“Stock markets are higher,” said Lee Wai Tuck, a strategist at Forecast Pte in Singapore. “I will not be too bearish on the yen, but at the moment investors are selling.”

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