(Bloomberg) -- The yen headed for the first weekly
advance versus the euro in a month as a slump in global stock
markets caused investors to sell higher-yielding assets they
bought with money borrowed in Japan.
Japan's currency yesterday gained the most in 10 weeks after
the Dow Jones Industrial Average had the biggest drop since April
13, pushing traders to pare so-called carry trades. Asian stock
markets are likely to follow after American depositary receipts
of the region's equities had the biggest decline in three weeks.
Read more at Bloomberg Currencies News
advance versus the euro in a month as a slump in global stock
markets caused investors to sell higher-yielding assets they
bought with money borrowed in Japan.
Japan's currency yesterday gained the most in 10 weeks after
the Dow Jones Industrial Average had the biggest drop since April
13, pushing traders to pare so-called carry trades. Asian stock
markets are likely to follow after American depositary receipts
of the region's equities had the biggest decline in three weeks.
Read more at Bloomberg Currencies News
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