(Bloomberg) -- The euro fell the most against the
dollar in almost five months on speculation worsening subprime
mortgage losses in the U.S. will hurt European banks and as
stocks in the region slumped on weaker earnings.
The common currency also slid to a one-month low versus the
yen after national stock benchmarks declined in all 18 western
European markets. The yen was buoyed against the euro as sliding
equities prompted investors to unwind so-called carry trades,
where they borrow in Japan to buy higher yielding assets.
Read more at Bloomberg Currencies News
dollar in almost five months on speculation worsening subprime
mortgage losses in the U.S. will hurt European banks and as
stocks in the region slumped on weaker earnings.
The common currency also slid to a one-month low versus the
yen after national stock benchmarks declined in all 18 western
European markets. The yen was buoyed against the euro as sliding
equities prompted investors to unwind so-called carry trades,
where they borrow in Japan to buy higher yielding assets.
Read more at Bloomberg Currencies News
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