(Bloomberg) -- The yen rose to a 2 1/2-month high
against the dollar as global equities fell, prompting traders to
reduce investment in assets funded by borrowing in Japan.
The Japanese yen rose against all 16 most-actively traded
currencies as investors pared so-called carry trades, following a
declines in stock markets in Asia and Europe. U.S. stock-index
futures also dropped on concern losses related to subprime
mortgages will undermine economic growth.
Read more at Bloomberg Currencies News
against the dollar as global equities fell, prompting traders to
reduce investment in assets funded by borrowing in Japan.
The Japanese yen rose against all 16 most-actively traded
currencies as investors pared so-called carry trades, following a
declines in stock markets in Asia and Europe. U.S. stock-index
futures also dropped on concern losses related to subprime
mortgages will undermine economic growth.
Read more at Bloomberg Currencies News
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