(Bloomberg) -- The yen traded near a three-month
high against the euro as a slump in global stocks caused traders
to repay Japanese currency loans used to fund higher-yielding
investments.
The Australian and New Zealand dollars, favorites of so-
called carry trades, dropped as corporate debt markets slumped
worldwide, increasing the cost of takeovers. The ruling
coalition of Japanese Prime Minister Shinzo Abe lost its upper
house majority yesterday, prompting Japanese stocks to decline.
Read more at Bloomberg Currencies News
high against the euro as a slump in global stocks caused traders
to repay Japanese currency loans used to fund higher-yielding
investments.
The Australian and New Zealand dollars, favorites of so-
called carry trades, dropped as corporate debt markets slumped
worldwide, increasing the cost of takeovers. The ruling
coalition of Japanese Prime Minister Shinzo Abe lost its upper
house majority yesterday, prompting Japanese stocks to decline.
Read more at Bloomberg Currencies News
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