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Yen Pares Advances as Putin Speaks on Crimea; Euro Erases Loss

March 18 (Bloomberg) -- The yen pared its advance against most major currencies after President Vladimir Putin said Russia isn’t seeking to split the Ukraine, reducing the safe haven appeal of the Japanese currency.

The euro erased its loss versus the dollar, after weakening earlier on an industry report that showed German investor confidence dropped to the lowest level since August. Putin supported a request from Ukraine’s separatist region of Crimea to join Russia, defying U.S. and European Union sanctions in the worst standoff between Russia and the West since the Cold War.

The yen strengthened as much 0.4 percent before trading at 101.70 per dollar as of 8:03 a.m. in New York. The Japanese currency traded at 141.59 per euro. The 18-nation euro traded at $1.3926.

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