Yen May Extend Gains Against Dollar, Euro on Concern About Risk Aversion

(Bloomberg) -- The yen may extend its gains against
the dollar and euro amid concern that demand for riskier assets
may decline with central banks in Europe and Asia likely to raise
interest rates in the months ahead.

Japan's yen rebounded yesterday from a record low against
the euro as investors exited so-called carry trades in which they
buy higher-yielding assets financed by loans in Japan. European
Central Bank President Jean-Claude Trichet and U.S. Federal
Reserve Chairman Ben S. Bernanke said yesterday they are
concerned about complacency in global markets.


Read more at Bloomberg Currencies News