Yen Advances Against Euro, Dollar as Investors Reduce Carry Trades

(Bloomberg) -- The yen rebounded from a record low
against the euro as investors pared asset purchases funded by
loans in the Japanese currency.

Japan's yen advanced against 13 of the 16 most-actively
traded currencies tracked by Bloomberg as investors unwound the
so-called carry trade. The yen also gained against the dollar as
the Bank of Japan's Tankan report showed confidence among
manufacturers held near a two-year high, adding to expectations
the central bank will raise interest rates this year.


Read more at Bloomberg Currencies News