(Reuters) - High yielding currencies fell sharply in volatile markets on Friday as an overnight sell-off in credit and stock markets led investors to pare risky carry trades.
The rise in risk aversion originally sent the low-yielding yen to a three-month high against the dollar and a six-week high versus the euro. But the Japanese currency's gains proved short-lived, in part due to soft retail sales data from Japan and also because of a recovery in European stock markets.
Read more at Reuters Africa
The rise in risk aversion originally sent the low-yielding yen to a three-month high against the dollar and a six-week high versus the euro. But the Japanese currency's gains proved short-lived, in part due to soft retail sales data from Japan and also because of a recovery in European stock markets.
Read more at Reuters Africa
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