COMMODITIES VIEW

CURRENCY VIEW

The yen strengthened for a second day against the dollar after the Bank of Japan maintained a pledge to double its monetary base without outlining any additional measures to meet its inflation target.
Japan’s currency rose at least 0.3 percent versus all its 16 major peers after the central bank predicted a gauge of consumer prices will almost match its 2 percent target by next fiscal year, reducing the need for more stimulus. Sweden’s krona advanced for a third day against the euro after a government report showed consumer confidence improved this month. The Chinese yuan climbed to a 19-year high versus the dollar.
The yen rose 0.6 percent to 98.70 per dollar at 7:09 a.m. in New York after gaining 0.3 percent yesterday. Japan’s currency appreciated 0.6 percent to 128.36 per euro, extending this week’s advance to 1.2 percent. The euro was little changed at $1.3006.