(Bloomberg) -- The yen gained, after posting its
biggest monthly advance in more than a year against the euro,
on concern that losses from U.S. subprime mortgages will push
investors to pare riskier investments funded by loans in Japan.
Traders pushed up the yen against all 16 major currencies
tracked by Bloomberg yesterday as they reduced so-called carry
trades after American Home Mortgage Investment Corp. said it may
have to sell off assets. U.S. stocks slumped and a gauge of
corporate bond risk increased, prompting investors to trim their
appetite for higher-yielding assets.
Read more at Bloomberg Currencies News
biggest monthly advance in more than a year against the euro,
on concern that losses from U.S. subprime mortgages will push
investors to pare riskier investments funded by loans in Japan.
Traders pushed up the yen against all 16 major currencies
tracked by Bloomberg yesterday as they reduced so-called carry
trades after American Home Mortgage Investment Corp. said it may
have to sell off assets. U.S. stocks slumped and a gauge of
corporate bond risk increased, prompting investors to trim their
appetite for higher-yielding assets.
Read more at Bloomberg Currencies News
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