The yen weakened the most versus the euro in five weeks amid waning concern that a banking crisis is developing in the euro area, damping demand for the currency as a haven.
The yen depreciated against all but one of its 16 major counterparts as European and Asian stocks advanced. The euro rose for the first time in three days against the dollar before European Central Bank President Mario Draghi speaks to European Union lawmakers. Indonesia’s rupiah fell the most in two weeks after the central bank said the current-account deficit probably widened to near a record last quarter.
The yen dropped 0.4 percent to 138.35 per euro at 9:24 a.m. London time, the biggest decline since June 6. The yen slid 0.2 percent to 101.50 per dollar. The 18-nation shared currency rose 0.2 percent to $1.3629.
Portugal’s Banco Espirito Santo SA appointed a new management board yesterday after markets were roiled last week when a parent company missed some debt payments.
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