(Reuters) - The dollar soared to a 4-1/2-year peak against the yen and an 11-week high versus the euro on Wednesday as a sharp rise in U.S. bond yields boosted the dollar's allure while carry trades proved resilient.
The euro fell to one-month lows against the yen earlier in the session on concerns that rising global bond yields and sluggish stock markets would spark an unwinding of carry trades, where investors use the low-yielding currency for financing investment in high-yielding ones like the New Zealand dollar.
Read more at Reuters Africa
The euro fell to one-month lows against the yen earlier in the session on concerns that rising global bond yields and sluggish stock markets would spark an unwinding of carry trades, where investors use the low-yielding currency for financing investment in high-yielding ones like the New Zealand dollar.
Read more at Reuters Africa
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