(Bloomberg) -- The yen extended its gains against the euro on speculation the Bank of Japan will this week forecast stronger economic growth, giving policy makers room to raise interest rates.
The currency also rose versus the Australian and New Zealand dollars as traders cut investments in higher-yielding assets financed by borrowing in the yen, known as carry trades. The central bank may predict 2.3 percent expansion in the year starting next April 1, from 2.1 percent this fiscal year, according to a Bloomberg News survey of economists before its April 27 semiannual outlook.
Read more at Bloomberg Currencies News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment