The yen rallied the most in a year against the dollar as speculation the U.S. Federal Reserve will reduce stimulus that has boosted global markets spurred declines in riskier assets that may have risen too far, too fast.
The dollar erased losses against the euro, trimming a weekly decline, as a higher-than-forecast increase in orders for U.S. durable goods added to speculation the Federal Reserve may slow monetary stimulus this year.
The Australian dollar may fall to its lowest level in more than 19 months if it continues a weakening trend and breaches a key support level, according to Credit Suisse AG, citing technical indicators.
First National Bank, the retail- banking unit of FirstRand Ltd., said it wants to find a black executive to replace Jacques Celliers when he steps down as head of business banking at the end of this year.
Tongaat Hulett Ltd., South Africa’s second-largest sugar producer by market value, reported full- year profit that missed analyst estimates as earnings growth slowed amid a decline in world sugar prices.