(Bloomberg) -- The yen declined to a record low against the euro for a second day as signs of weaker economic growth suggest the Bank of Japan is unlikely to raise interest rates anytime soon.
The yield advantage on German two-year notes over Japanese equivalents rose to the most in almost five years after reports yesterday showed Europe's economy expanded more than expected and Japanese machinery orders fell. The yen has dropped against 15 of the 16 most-traded currencies this year as Japan's 0.5 percent borrowing costs lure investors to higher returns overseas.
Read more at Bloomberg Currencies News
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