The yen weakened from a four-month high against the euro as Bank of Japan Governor Haruhiko Kuroda said the economy was recovering moderately, signaling officials will maintain their stimulus.
Sweden’s Left Party, which polls show may help form a government with the opposition Social Democrats after September elections, said political consensus is growing that the central bank needs a new mandate.
Sweden’s central bank faces a “pretty serious problem” in tackling below-target inflation, Deputy Governor Per Jansson said.
Sweden’s economy contracted in the first quarter as imports surged, masking a gain in consumer spending and a recovery in exports.
Sweden’s krona strengthened after a report showed retail sales unexpectedly gained, cooling speculation of an interest rate cut in July.
Sweden’s Finance Minister Anders Borg is urging Pfizer Inc. to give up its efforts to take over drugmaker AstraZeneca Plc, arguing the deal would destroy research and development jobs in Europe.
A potential increase in Norwegian power demand to supply North Sea oil fields won’t halt the region’s path toward an unprecedented glut of electricity.
The yen strengthened versus most of its 16 major peers as a private report showing Chinese manufacturing contracted more than economists estimated last month spurred demand for safer assets.
The yen weakened for a third day against the dollar as signs that tensions in Ukraine and Russia are easing and a rally in stocks damped demand for safer assets.
The dollar fell to a five-month low against a basket of peers on speculation a drop in initial jobless claims won’t be enough for the Federal Reserve to accelerate plans to raise interest rates.