The yen rose against the euro in Currency Trading Platforms on concern Europe’s debt crisis will damage an economic recovery of the 16-nation region; it boosted demand for Japan’s currency as a “safe” refuge.
The yen increased to 112.13 per euro, the lowest level since June 4. The currency rose to 91.32 versus the greenback from 91.44, and gained 0.5 percent to 78.61 against the Australian dollar.
The euro fell for a second day against the dollar after Spain’s central bank said yesterday it plans to publish the results of tests carried out on the nation’s lenders to confirm speculation it needs international financial aid. Spain’s central bank has seized two lenders since the start of the crisis.
EU leaders will hold a summit in Brussels to discuss the region’s economic growth and plan economic policies to maintain the so-called stability and growth pact. Greece’s public debt woes have focused attention on Spain’s public finances.