(Bloomberg) -- The yen fell for a second day against the dollar and euro as a gain in Asian stocks gave traders more confidence to buy higher-yielding assets financed with money borrowed in Japan.
The Japanese currency may extend losses after posting a seventh weekly slide against the euro as a rebound in equities gave investors confidence to resume so-called carry trades. Traders bought back the yen on April 19 after China's shares plunged, triggering an equities slide reminiscent of the global sell-off on Feb. 27.
Read more at Bloomberg Currencies News
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