(Bloomberg) -- The yen retreated from a one-month
high against the dollar as Japanese individual investors took
advantage of a 1.4 percent rally yesterday to sell the currency
and buy higher-yielding assets.
The Japanese yen also pared gains against the Canadian
dollar on speculation the Bank of Japan will keep its overnight
lending rate at 0.5 percent tomorrow, encouraging so-called
carry trades. The yen surged yesterday as U.S. stocks slumped,
raising concern global fund managers will pare riskier holdings.
Read more at Bloomberg Currencies News
high against the dollar as Japanese individual investors took
advantage of a 1.4 percent rally yesterday to sell the currency
and buy higher-yielding assets.
The Japanese yen also pared gains against the Canadian
dollar on speculation the Bank of Japan will keep its overnight
lending rate at 0.5 percent tomorrow, encouraging so-called
carry trades. The yen surged yesterday as U.S. stocks slumped,
raising concern global fund managers will pare riskier holdings.
Read more at Bloomberg Currencies News
No comments:
Post a Comment