Emerging-market stocks advanced to a four-month high as Federal Reserve meeting minutes eased concern about the pace of U.S. interest-rate increases. South Korea’s won climbed to the highest level since 2008.
Japan may sell some of its foreign holdings, including U.S. debt, to finance increased spending after the country’s strongest earthquake left millions without electricity or water, according to Brown Brothers Harriman & Co.
The dollar rose to its highest level since September as data from industrial production to housing starts helped offset unemployment figures a week ago, signaling the Federal Reserve may continue reducing stimulus.
The yen fell against all of its 16 major peers as investors sought riskier assets and concern mounted that inflation will fall short of the Bank of Japan’s 2 percent goal, spurring more monetary easing.