“The yen weakened against the dollar after Japan’s economy minister backed away from comments that drove the currency to its biggest gain in three weeks. The pound slumped and European stocks fell while grains and precious metals led commodities lower.
Japan’s currency dropped 0.5 percent to 102.78 per dollar at 7:26 a.m. in New York. The pound depreciated 0.7 percent to $1.5147, a six-week low, after U.K. inflation slowed more than economists forecast in April. The Stoxx Europe 600 Index declined 0.5 percent and Standard & Poor’s 500 Index futures lost 0.2 percent. Corn, wheat and gold lost more than 1 percent. The 10-year Treasury yield slid one basis point to 1.95 percent…”
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