(Bloomberg) -- The yen fell versus the euro, dollar
and a dozen other major currencies as strength in U.S. stocks
signaled investors are returning to risky assets.
Investors sold the yen as they resumed so-called carry
trade bets, where they borrow in Japan to purchase securities in
countries where interest rates are higher. The yen gave up gains
posted earlier today and yesterday when investors fled risky
trades following Moody's Investors Service's move to cut ratings
on $5.2 billion of bonds backed by U.S. subprime mortgages.
Read more at Bloomberg Currencies News
and a dozen other major currencies as strength in U.S. stocks
signaled investors are returning to risky assets.
Investors sold the yen as they resumed so-called carry
trade bets, where they borrow in Japan to purchase securities in
countries where interest rates are higher. The yen gave up gains
posted earlier today and yesterday when investors fled risky
trades following Moody's Investors Service's move to cut ratings
on $5.2 billion of bonds backed by U.S. subprime mortgages.
Read more at Bloomberg Currencies News
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