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The yen gained the most in three weeks against the dollar as Japanese Economy Minister Akira Amari said further losses in the currency would have negative effects after it fell to the lowest since 2008 last week.
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Koruna sales would have a faster impact on inflation than the standard monetary-policy tool of changing interest rates, Czech central bank board member Lubomir Lizal said.
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Poland’s currency declined to a five- week low as inflation decelerating to the slowest pace in almost seven years boosted speculation the central bank will cut interest rates.
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Moody’s Investors Service said it’s assessing the risk of currency depreciation damaging the creditworthiness of emerging-market companies after record foreign bond sales.
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Czech March industrial output dropped more than economists forecast as car production declined, a sign the longest recession on record is stretching into 2013.
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The Czech koruna strengthened to a six-week high after central bank Deputy Governor Vladimir Tomsik signaled an intervention to weaken the currency isn’t imminent.
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The dollar fell versus 14 of its 16 most-traded peers as business activity in the U.S. unexpectedly shrank for the first time in more than three years amid bets the Federal Reserve won’t slacken its bond buying under quantitative easing.
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Mondi Ltd., the largest maker of office paper in Europe and South Africa, said first-quarter earnings rose 35 percent because of improved market conditions and as acquisitions in Europe boosted income.
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The Czech economy doesn’t face deflation risks that would warrant further easing of monetary conditions by foreign-exchange interventions to weaken the koruna, central bank board member Pavel Rezabek said.
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The Czech koruna snapped two days of losses after Vice-Governor Mojmir Hampl damped speculation the central bank will sell the currency.
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