Friday, June 22, 2007

Yen hits fresh lows on quest for yield

(Reuters) - The yen weakened further on Friday, hitting a record low versus the euro and a 4-1/2 year trough against the dollar as investors chased high return assets at the expense of the low-yielding Japanese currency.

The high-yielding Australian and New Zealand dollars benefited from a continued vogue for carry trades, scoring fresh multi-year peaks against the yen and dollar.


Read more at Reuters Africa

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