(Bloomberg) -- The yen dropped to a record low
against the euro and sank to the weakest in more than four years
against the dollar as investors sought higher-yielding assets
funded by loans in Japan.
The Japanese currency also declined to a 15-year low versus
the British pound as the nation's lowest interest rates among
major economies encouraged the so-called carry trades. The Bank
of Japan kept borrowing costs at 0.5 percent last week and
signaled further increases will be gradual.
Read more at Bloomberg Currencies News
against the euro and sank to the weakest in more than four years
against the dollar as investors sought higher-yielding assets
funded by loans in Japan.
The Japanese currency also declined to a 15-year low versus
the British pound as the nation's lowest interest rates among
major economies encouraged the so-called carry trades. The Bank
of Japan kept borrowing costs at 0.5 percent last week and
signaled further increases will be gradual.
Read more at Bloomberg Currencies News
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