Euro Rises Versus Japanese Yen Before ECB Interest-Rate Meeting

[Enivid]

The euro rose against the yen before a European Central Bank meeting at which policy makers may avoid cutting interest rates and expanding asset purchases.

The yen fell versus the dollar as gains in stocks fueled appetite for higher-risk assets and a report showed Japanese investors increased purchases of overseas bonds to the most in a month. The Swedish krona rebounded from near a six-week low against the euro after Latvia said it will keep its currency peg. The pound advanced against the dollar and the euro as data showed an unexpected jump in house prices.

“European equities and U.S. futures are heading higher, signaling risk appetite is once again picking up,” said Michael Klawitter, a foreign-exchange strategist in Frankfurt at Commerzbank AG. That’s “providing support” for the euro.

The euro rose to 136.83 yen as of 11:38 a.m. in London, from 135.93 in New York yesterday. The Japanese currency weakened to 96.48 per dollar from 95.99. The euro was at $1.4167, from $1.4162.

From Bloomberg News.

[JEAN]

the yen's weakness is benefiting the euro and the dollar.
today's ECB meeting. If the meeting goes as expected, the pair could rebound to 138.00 yens per euro.