(Bloomberg) -- The yen fell to near a record low
against the euro and declined versus the dollar after minutes
from the Bank of Japan's meeting in May said central bankers
stuck to a policy of raising interest rates ``gradually.''
The Japanese yen has weakened more than any other currency
against the euro and dollar this year as fund managers increased
investments using borrowed yen in the so-called carry trade. The
extra yield investors earn on German 10-year bonds over similar
maturity Japanese debt widened to near a three-year high.
Read more at Bloomberg Currencies News
against the euro and declined versus the dollar after minutes
from the Bank of Japan's meeting in May said central bankers
stuck to a policy of raising interest rates ``gradually.''
The Japanese yen has weakened more than any other currency
against the euro and dollar this year as fund managers increased
investments using borrowed yen in the so-called carry trade. The
extra yield investors earn on German 10-year bonds over similar
maturity Japanese debt widened to near a three-year high.
Read more at Bloomberg Currencies News
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