Nov. 30 (Bloomberg) — The yen weakened against higher- yielding currencies after the United Arab Emirates’ central bank said it “stands behind” the country’s banks, easing concern about a possible default by state-owned Dubai World.

The euro advanced for the first time in five days against the yen after the Abu Dhabi-based central bank of the U.A.E. said lenders will be able to borrow using a special facility tied to their current accounts. The Australian and New Zealand dollars rallied as demand rose for riskier assets after concern eased over credit losses in the Middle East.

“The decision by U.A.E. helped calm down credit woes,” said Akane Vallery Uchida, foreign-currency strategist in Tokyo at Royal Bank of Scotland Plc. “The yen, which was bought over jitters in Dubai, is being sold.”