The yen fell against most of its major peers after Opec’s deal to cut oil production sparked a surge in stocks that hurt demand for assets viewed as havens. Photo: ReutersSingapore/London: The yen fell against most of its major peers after Opec’s deal to cut oil production sparked a surge in stocks that hurt demand for assets viewed as havens. Japan’s currency was also undermined, dropping for a third day against the dollar, amid optimism higher oil prices would help Bank of Japan governor Haruhiko Kuroda achieve his inflation goals. Malaysia’s ringgit led gains, while Norway’s krone touched the strongest level in a year versus the euro, before falling back as oil retreated. Kuroda’s questKuroda started on his quest toward a 2% inflation target by announcing massive asset purchases in 2013.

Source: Mint September 29, 2016 14:15 UTC