(Bloomberg) -- The yen traded near a record low
versus the euro on speculation the Bank of Japan will signal in
its June minutes that any interest-rate increases will come at a
gradual pace, curbing the appeal of the Japanese currency.
The Japanese currency dropped yesterday as concern eased
that losses will mount in securities backed by subprime mortgage
loans. The Dow Jones Industrial Average exceeded 14,000 for the
first time, encouraging buying of risky assets funded by loans
in Japan, a strategy known as the carry trade.
Read more at Bloomberg Currencies News
versus the euro on speculation the Bank of Japan will signal in
its June minutes that any interest-rate increases will come at a
gradual pace, curbing the appeal of the Japanese currency.
The Japanese currency dropped yesterday as concern eased
that losses will mount in securities backed by subprime mortgage
loans. The Dow Jones Industrial Average exceeded 14,000 for the
first time, encouraging buying of risky assets funded by loans
in Japan, a strategy known as the carry trade.
Read more at Bloomberg Currencies News
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