(Bloomberg) -- The yen rebounded from a record low
against the euro after Chinese stocks slid to the weakest in two
weeks, prompting investors to reduce emerging-market purchases
funded by money borrowed in Japan.
The Japanese currency also stayed higher versus the dollar
as a report by the Bank for International Settlements warned
investors about their ``too firm conviction'' on so-called carry
trades. Stock markets in Asia and Europe dropped today, led by
Chinese equities, as China's central bank governor Zhou Xiaochuan
said the country's shares may be overvalued and hinted at further
interest-rate increases.
Read more at Bloomberg Currencies News
against the euro after Chinese stocks slid to the weakest in two
weeks, prompting investors to reduce emerging-market purchases
funded by money borrowed in Japan.
The Japanese currency also stayed higher versus the dollar
as a report by the Bank for International Settlements warned
investors about their ``too firm conviction'' on so-called carry
trades. Stock markets in Asia and Europe dropped today, led by
Chinese equities, as China's central bank governor Zhou Xiaochuan
said the country's shares may be overvalued and hinted at further
interest-rate increases.
Read more at Bloomberg Currencies News
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