(Bloomberg) -- The yen fell to the lowest level in
almost three months versus the dollar as traders resumed
borrowing Japan's currency to fund purchases of higher-yielding
assets.
The Japanese yen fell against 14 of 16 most-active
currencies after Asian stock markets reversed declines and equity
indexes in the U.S. gained. The Nasdaq Composite Index rose 0.9
percent. Japan has the lowest borrowing costs among major
nations, encouraging investors to participate in the so-called
carry trade.
Read more at Bloomberg Currencies News
almost three months versus the dollar as traders resumed
borrowing Japan's currency to fund purchases of higher-yielding
assets.
The Japanese yen fell against 14 of 16 most-active
currencies after Asian stock markets reversed declines and equity
indexes in the U.S. gained. The Nasdaq Composite Index rose 0.9
percent. Japan has the lowest borrowing costs among major
nations, encouraging investors to participate in the so-called
carry trade.
Read more at Bloomberg Currencies News
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