(Bloomberg) -- The yen fell to a 4 1/2-year low
against the dollar and a one-week low against the euro as Bank
of Japan Governor Toshihiko Fukui said the central bank will
raise the overnight lending rate only gradually.
The currency also slid against the New Zealand and
Australian dollars after policy makers unanimously decided to
keep the benchmark rate at 0.5 percent for a fifth meeting. The
lowest borrowing costs in the industrialized world encouraged
investors to take out loans in Japan and buy higher-yielding
assets in so-called carry trades.
Read more at Bloomberg Currencies News
against the dollar and a one-week low against the euro as Bank
of Japan Governor Toshihiko Fukui said the central bank will
raise the overnight lending rate only gradually.
The currency also slid against the New Zealand and
Australian dollars after policy makers unanimously decided to
keep the benchmark rate at 0.5 percent for a fifth meeting. The
lowest borrowing costs in the industrialized world encouraged
investors to take out loans in Japan and buy higher-yielding
assets in so-called carry trades.
Read more at Bloomberg Currencies News
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