The yen declined the most against the Canadian dollar, a favorite for so-called carry trades after Asian stocks rose on speculation Ambac Financial Group Inc., the world's second- biggest bond insurer, may receive $3 billion from major banks to maintain its AAA rating.
The yen fell to 107.42 against the dollar at 9:54 a.m. in Tokyo from 107.17 late in New York on Feb. 22. Against the euro, it declined to 159.26 from 158.99. The euro was little changed at $1.4826. The yen may fall toward 107.50-108 against the dollar today, Amikura forecast.