Yen Rises Most in 10 Weeks Against Euro as Investors Reduce Carry Trades

(Bloomberg) -- The yen rose the most in 10 weeks
against the euro as investors pared holdings of emerging-market
bonds and stocks funded by loans in the Japanese currency.

Japan's yen gained against all 16 of the most-active
currencies, extending its rally after Finance Minister Koji Omi
yesterday stressed the risk of one-way foreign-exchange bets.
Stocks in Europe and Asia declined as investors shunned riskier
assets, prompting an unwinding of the so-called carry trade.


Read more at Bloomberg Currencies News