Japanese Yen Falls as Commodities & Stocks Rally

The Japanese yen dropped today after equities gained and commodities pared declines, reducing demand for safe currencies.

The Japanese yen gained yesterday on fears of the sovereign-debt crisis in Europe. Today the currency erased its gains as commodities, including silver and copper, advanced. The Stoxx Europe 600 Index gained 0.6 percent and the MSCI Asia Pacific Index went up 0.2 percent.

USD/JPY rose from 80.34 to 80.69 and EUR/JPY advanced from 115.43 to 115.85 today as of 9:34 GMT.

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