Monday, July 9, 2007

Yen Falls to Record Against Euro as Stock Gains Lure Japanese Funds Abroad

(Bloomberg) -- The yen fell to a record low against
the euro as stocks in Asia and Europe climbed, luring Japanese
investors to overseas assets.

The Japanese yen slid against the nine most actively-traded
currencies as indexes of Australian and Hong Kong shares rose to
all-time highs and a gauge of Thai equities was at its strongest
in 10 years. Investors in Japan bought a net 103.3 billion yen
($840 million) of foreign stocks in the week ended June 30, the
Ministry of Finance said in Tokyo on July 5.


Read more at Bloomberg Currencies News

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