(Reuters) - The yen rallied against most currencies in volatile trade on Monday as concerns about the U.S. mortgage market sparked investors to unwind risky bets such as carry trades funded by the Japanese currency.
Fears that turmoil in the U.S. subprime sector have spilled over into the wider credit markets prompted traders to close carry trades, in which low-yielding currencies were used to buy high-yielding assets. The U.S. and New Zealand dollars slipped as a result.
Read more at Reuters Africa
Fears that turmoil in the U.S. subprime sector have spilled over into the wider credit markets prompted traders to close carry trades, in which low-yielding currencies were used to buy high-yielding assets. The U.S. and New Zealand dollars slipped as a result.
Read more at Reuters Africa
No comments:
Post a Comment