The yen weakened beyond 100 per dollar for the first time in four years as the Bank of Japan’s deflation-fighting measures have the currency headed for its longest streak of monthly losses in almost two decades.
The euro fell by the most in three weeks versus the dollar as Cyprus sought to secure a bailout of its banking system and as data suggested economic growth in the region that shares the currency is failing to accelerate.
The dollar declined to the lowest level in more than a week against the euro after U.S. employers added fewer jobs in March than forecast, fueling speculation growth in the world’s biggest economy is slowing.
The euro strengthened from a four- month low against the dollar as Cyprus sought alternatives to the European Union plan to help the nation avoid a banking collapse and the Federal Reserve maintained stimulus measures.
The dollar fell to the weakest since November 2011 versus the euro after the Federal Reserve said it will keep buying $85 billion of securities a month to spur the economy, adding to concern the U.S. currency is being debased.
The yen fell versus the dollar for the first time in three days, headed back toward a 29-month low, as Prime Minister Shinzo Abe told Bank of Japan governor Masaaki Shirakawa he wants the central bank’s inflation goal doubled.