(Bloomberg) -- The yen headed for the biggest weekly
gain against the euro in more than two months as Japanese
inflation data and a slump in Asian stocks prompted traders to
pare investments in higher-yielding assets.
The yen advanced versus 13 of the 16 most-active currencies
as a slower decline in consumer prices supported the central
bank's case for higher interest rates. The currency traded near a
two-week high to the euro as investors reduced so-called carry
trades, in which they borrow in Japan to buy securities with
better returns overseas.
Read more at Bloomberg Currencies News
gain against the euro in more than two months as Japanese
inflation data and a slump in Asian stocks prompted traders to
pare investments in higher-yielding assets.
The yen advanced versus 13 of the 16 most-active currencies
as a slower decline in consumer prices supported the central
bank's case for higher interest rates. The currency traded near a
two-week high to the euro as investors reduced so-called carry
trades, in which they borrow in Japan to buy securities with
better returns overseas.
Read more at Bloomberg Currencies News
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