(Bloomberg) -- The yen fell versus the euro and a
dozen other major currencies as signs of stability in U.S.
stocks suggested investors may slow a flight from risky assets.
The yen gave up gains posted earlier today and yesterday
when investors fled risky trades following Moody's Investors
Service's move to cut ratings on $5.2 billion of bonds backed by
U.S. subprime mortgages. The rating reduction led some traders
to exit so-called carry-trade bets financed by borrowing yen.
Read more at Bloomberg Currencies News
dozen other major currencies as signs of stability in U.S.
stocks suggested investors may slow a flight from risky assets.
The yen gave up gains posted earlier today and yesterday
when investors fled risky trades following Moody's Investors
Service's move to cut ratings on $5.2 billion of bonds backed by
U.S. subprime mortgages. The rating reduction led some traders
to exit so-called carry-trade bets financed by borrowing yen.
Read more at Bloomberg Currencies News
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