Yen falls again on China Q4 growth figure

Tokyo

THE yen declined for a third day versus the dollar as a report showed China's fourth-quarter growth held steady at 7.3 per cent from a year earlier, slightly better than expectations.

The Japanese currency fell against all but one of its 16 major counterparts. The euro headed towards its lowest level in more than 11 years versus the greenback before the European Central Bank, led by Mario Draghi, meets this week with economists saying policy makers may announce a sovereign-bond buying programme. Malaysia's ringgit slid after the government said its budget deficit will be wider than initially targeted. The Swiss franc strengthened against 15 of its 16 major peers.