Friday, July 6, 2007

Yen hits record low vs euro, dollar steadies before data

(Reuters) - The yen fell to record lows versus the euro and dropped against the dollar on Friday as the market continued to focus on the carry trade, while the dollar maintained Thursday's gains ahead of a key U.S. jobs report.

Analysts said the yen's continued weakness is caused by investors selling the low yielding currency to fund purchases of higher yielding assets.


Read more at Reuters Africa

No comments: