Euro Strengthens to Record High Against Yen on Search for Higher Yields

(Bloomberg) -- The euro rose to a record high versus
the yen on prospects the European Central Bank will raise
interest rates tomorrow, encouraging Japanese investors to seek
the higher yields available in Europe.

Japan's currency is the world's worst performer this quarter
as the lowest borrowing costs of any major economy entice
investors to borrow yen to buy currencies paying higher returns.
The spread between European and Japanese three-month benchmark
lending rates reached a five-year high as traders raised bets the
ECB will also signal more rate increases.


Read more at Bloomberg Currencies News