Yen Rebounds From Record Low Against Euro as Chinese Stocks Slump on Tax

(Bloomberg) -- The yen rose from a record low versus
the euro after Chinese stocks slumped and investors sold
emerging-market assets bought with money borrowed in Japan.

The yen gained against 12 of the 16 most actively traded
currencies after China raised a tax on securities transactions
to stem surging share prices. The yen has fallen 3.7 percent
versus the euro this year as investors take advantage of
borrowing costs in Japan that are the lowest among major
economies to fund investment in higher-yielding assets
elsewhere.


Read more at Bloomberg Currencies News