(Bloomberg) -- The yen fell to an all-time low
against the euro and weakened versus the dollar as rising global
interest rates prompted Japanese investors to buy assets abroad.
The yen fell against all 16 of the most-actively traded
currencies as Japan's 0.5 percent interest rate, the lowest among
developed nations, encouraged investors to borrow in the country
and seek higher returns overseas in a practice known as the carry
trade. The Bank of England yesterday lifted borrowing costs to a
six-year high and the European Central Bank signaled it may raise
its interest rate as soon as September.
Read more at Bloomberg Currencies News
against the euro and weakened versus the dollar as rising global
interest rates prompted Japanese investors to buy assets abroad.
The yen fell against all 16 of the most-actively traded
currencies as Japan's 0.5 percent interest rate, the lowest among
developed nations, encouraged investors to borrow in the country
and seek higher returns overseas in a practice known as the carry
trade. The Bank of England yesterday lifted borrowing costs to a
six-year high and the European Central Bank signaled it may raise
its interest rate as soon as September.
Read more at Bloomberg Currencies News
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