(Bloomberg) -- The yen traded near the weakest in
more than four years versus the dollar on speculation the Bank of
Japan will refrain from lifting the lowest borrowing costs among
major economies.
Japan's yen dropped yesterday after minutes from the BOJ's
May meeting suggested interest rates will rise ``gradually,''
encouraging investors to borrow the currency and buy higher-
yielding assets elsewhere, in a practice known as the carry
trade. A decline in U.S. stocks on rising bond yields may spill
over into Asian equity markets, helping the yen cap its decline
as risk appetite retreated.
Read more at Bloomberg Currencies News
more than four years versus the dollar on speculation the Bank of
Japan will refrain from lifting the lowest borrowing costs among
major economies.
Japan's yen dropped yesterday after minutes from the BOJ's
May meeting suggested interest rates will rise ``gradually,''
encouraging investors to borrow the currency and buy higher-
yielding assets elsewhere, in a practice known as the carry
trade. A decline in U.S. stocks on rising bond yields may spill
over into Asian equity markets, helping the yen cap its decline
as risk appetite retreated.
Read more at Bloomberg Currencies News
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