(Bloomberg) -- The yen rose against the dollar and
the euro as losses on Bear Stearns Cos. hedge funds caused
investors to scale back purchases of riskier assets with money
borrowed in Japan.
The Japanese yen rose against all 16 most-actively traded
currencies as investors pared so-called carry trades. The dollar
touched a record low against the euro earlier after Bear Stearns
told investors in two of its hedge funds they will get little if
any money back after losses related to subprime mortgages.
Read more at Bloomberg Currencies News
the euro as losses on Bear Stearns Cos. hedge funds caused
investors to scale back purchases of riskier assets with money
borrowed in Japan.
The Japanese yen rose against all 16 most-actively traded
currencies as investors pared so-called carry trades. The dollar
touched a record low against the euro earlier after Bear Stearns
told investors in two of its hedge funds they will get little if
any money back after losses related to subprime mortgages.
Read more at Bloomberg Currencies News
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