(Bloomberg) -- The yen rebounded from a record low
against the euro as a slide in Asian stocks spurred traders to
scale back investments in emerging-market assets funded by
borrowing in Japan.
The currency headed for a second day of gains after the
Standard & Poor's 500 Index last week had the first weekly
decline in a month on concern subprime mortgage losses will
worsen a housing slowdown. The yen has dropped against all 16
most-active currencies this year as investors borrowed cheaply in
Japan to buy higher-yielding assets in so-called carry trades.
Read more at Bloomberg Currencies News
against the euro as a slide in Asian stocks spurred traders to
scale back investments in emerging-market assets funded by
borrowing in Japan.
The currency headed for a second day of gains after the
Standard & Poor's 500 Index last week had the first weekly
decline in a month on concern subprime mortgage losses will
worsen a housing slowdown. The yen has dropped against all 16
most-active currencies this year as investors borrowed cheaply in
Japan to buy higher-yielding assets in so-called carry trades.
Read more at Bloomberg Currencies News
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