Thursday, May 17, 2007

Yen on defensive after Japan GDP, carry trade still king

(Reuters) - The yen fell to a three-month low against the dollar and slid back toward a record low versus the euro on Thursday after Japanese growth data did little to dent investor appetite for higher-yielding currencies.

The Bank of Japan, which had the morning to examine the growth figures, ended its two day policy meeting on Thursday by leaving interest rates unchanged at 0.5 percent, as expected.


Read more at Reuters Africa

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