Tuesday, April 24, 2007

Yen Gains on Speculation Investors Repatriating Earnings on European Bonds

(Bloomberg) -- The yen advanced for a third day against the euro on speculation Japan's investors will bring home funds invested in European bonds before Japan's ``Golden Week'' holidays start this weekend.

France pays 19.5 billion euros ($26.6 billion) in coupon and principle redemption payments on its government debt today, some of which may go to Japanese investors. The yen was also boosted by speculation the Bank of Japan's semi-annual economic outlook, due April 27, will signal plans to raise interest rates.


Read more at Bloomberg Currencies News

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