The yen climbed versus a majority of its 16 major peers after Japan’s Economy Minister Akira Amari said further losses in the currency would negatively affect people and the government’s job is to minimize that.
Asian stocks climbed, with the regional benchmark heading for the highest close in almost five years, after stronger-than-expected U.S. data. The yen rebounded from the lowest level since October 2008, while silver slumped to the cheapest in more than two years.
Silver plunged to the lowest level since September 2010, sending its ratio to gold to the highest in 33 months, while bullion extended the longest slump in four years as investment holdings contracted and stocks rallied.
China’s new-home prices rose last month in 68 of 70 cities tracked by the government, indicating Premier Li Keqiang will need to maintain efforts to cool the property market even as economic growth slows.