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Yen falls to 4 ½-year low against Dollar as carry trades rise

Discussion in 'Forex Daily News & Outlook' started by prav, Jun 22, 2007.

  1. prav

    prav Moderator
    Staff Member

    Apr 28, 2007
    Likes Received:
    The yen fell to a 4 1/2-year low against the dollar and a record low against the euro as investors borrowed Japan's currency to buy higher-yielding assets in the U.S., Britain and New Zealand. The currency reached the weakest since September 1992 against the pound this week and a two-decade low versus New Zealand's dollar, both favored targets of so-called carry trades.


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