(Bloomberg) -- The yen was set for the biggest monthly
decline this year against the dollar after the U.S. stock market
rose to a record, encouraging investors to buy higher-yielding
assets with money borrowed in Japan.
The Japanese currency traded near a record low against the
euro as global stock markets rallied after yesterday's 6.8 percent
slump in China, whetting traders' appetites for riskier assets.
The yen also declined against the Australian and New Zealand
dollars, favorites of the so-called carry trade.
Read more at Bloomberg Currencies News
decline this year against the dollar after the U.S. stock market
rose to a record, encouraging investors to buy higher-yielding
assets with money borrowed in Japan.
The Japanese currency traded near a record low against the
euro as global stock markets rallied after yesterday's 6.8 percent
slump in China, whetting traders' appetites for riskier assets.
The yen also declined against the Australian and New Zealand
dollars, favorites of the so-called carry trade.
Read more at Bloomberg Currencies News
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